Statement of cash flows : The statement of cash flows is a statement which includes all transactions that pertain to cash inflow and outflow for a company for a given period. Given Information: The required information has been presented in the question. (a) To determine: To determine whether a plant asset costing $18,000 6½ years before and was being depreciated on a straight line basis over 10 years with no estimated scrap value and now sold for $4,000 should be included in statement of cash flows.

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Chapter 23, Problem 16Q

To determine

Introduction: Statement of cash flows: The statement of cash flows is a statement which includes all transactions that pertain to cash inflow and outflow for a company for a given period.

Given Information: The required information has been presented in the question.

(a) To determine: To determine whether a plant asset costing $18,000 6½ years before and was being depreciated on a straight line basis over 10 years with no estimated scrap value and now sold for $4,000 should be included in statement of cash flows.

To determine

(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

To determine

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

To determine

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.

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The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Transaction Debit amount Transaction Credit amount Bal., 3,000 units, 45% completed 6,900 To Finished Goods, 69,000 units ? Direct materials, 71,000 units @ $1.4 99,400 Direct labor 106,400 Factory overhead 41,440 Bal., ? units, 55% completed ? Cost per equivalent units of $1.40 for Direct Materials and $2.10 for Conversion Costs. a. Based on the above data, determine the different costs listed below. Line Item Description Amount 1. Cost of beginning work in process inventory completed this period fill in the blank 1 of 4$ 2. Cost of units transferred to finished goods during the period fill in the blank 2 of 4$ 3. Cost of ending work in process inventory fill in the blank 3 of 4$ 4. Cost per unit of…

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Answer 2

Question

Chapter 23, Problem 16Q

To determine

Introduction: Statement of cash flows: The statement of cash flows is a statement which includes all transactions that pertain to cash inflow and outflow for a company for a given period.

Given Information: The required information has been presented in the question.

(a) To determine: To determine whether a plant asset costing $18,000 6½ years before and was being depreciated on a straight line basis over 10 years with no estimated scrap value and now sold for $4,000 should be included in statement of cash flows.

To determine

(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

To determine

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

To determine

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.

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Answer 3

Question

Chapter 23, Problem 16Q

To determine

Introduction: Statement of cash flows: The statement of cash flows is a statement which includes all transactions that pertain to cash inflow and outflow for a company for a given period.

Given Information: The required information has been presented in the question.

(a) To determine: To determine whether a plant asset costing $18,000 6½ years before and was being depreciated on a straight line basis over 10 years with no estimated scrap value and now sold for $4,000 should be included in statement of cash flows.

To determine

(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

To determine

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

To determine

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.

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Answer 4

Question

Chapter 23, Problem 16Q

To determine

Introduction: Statement of cash flows: The statement of cash flows is a statement which includes all transactions that pertain to cash inflow and outflow for a company for a given period.

Given Information: The required information has been presented in the question.

(a) To determine: To determine whether a plant asset costing $18,000 6½ years before and was being depreciated on a straight line basis over 10 years with no estimated scrap value and now sold for $4,000 should be included in statement of cash flows.

To determine

(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

To determine

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

To determine

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 23, Problem 16Q

To determine

Introduction: Statement of cash flows: The statement of cash flows is a statement which includes all transactions that pertain to cash inflow and outflow for a company for a given period.

Given Information: The required information has been presented in the question.

(a) To determine: To determine whether a plant asset costing $18,000 6½ years before and was being depreciated on a straight line basis over 10 years with no estimated scrap value and now sold for $4,000 should be included in statement of cash flows.

To determine

(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

To determine

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

To determine

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.

Answer 6

Chapter 23, Problem 16Q

To determine

Introduction: Statement of cash flows: The statement of cash flows is a statement which includes all transactions that pertain to cash inflow and outflow for a company for a given period.

Given Information: The required information has been presented in the question.

(a) To determine: To determine whether a plant asset costing $18,000 6½ years before and was being depreciated on a straight line basis over 10 years with no estimated scrap value and now sold for $4,000 should be included in statement of cash flows.

Answer 7

Chapter 23, Problem 16Q

To determine

Introduction: Statement of cash flows: The statement of cash flows is a statement which includes all transactions that pertain to cash inflow and outflow for a company for a given period.

Given Information: The required information has been presented in the question.

(a) To determine: To determine whether a plant asset costing $18,000 6½ years before and was being depreciated on a straight line basis over 10 years with no estimated scrap value and now sold for $4,000 should be included in statement of cash flows.

Answer 8

To determine

(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

Answer 9

To determine

(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

Answer 10

To determine

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

Answer 11

To determine

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

Answer 12

To determine

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.

Answer 13

To determine

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 23 - Prob. 1Q Ch. 23 - Prob. 2Q Ch. 23 - Prob. 3Q Ch. 23 - Prob. 4Q Ch. 23 - Prob. 5Q Ch. 23 - Prob. 6Q Ch. 23 - Prob. 7Q Ch. 23 - Prob. 8Q Ch. 23 - Prob. 9Q Ch. 23 - Prob. 10Q

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(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.

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Chapter 23 Solutions

Concept explainers

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(b) To determine: To determine whether an entry for 10,000 shares of common stock with a stated value of $20 a share were issued for $41 a share to be included in cash flow statement.

(c) To determine: To determine whether an uncollectible acc. receivable amount of $22,000 was written off against Allowance for Doubtful Acc. be recorded in the statement of cash flows.

(d) To determine: To determine whether there will be any effect for the company that sustained. net loss of $50,000, depreciation of $22,000, a gain realized for $9,000, and available for sale securities for $38,000 cash.

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Chapter 23 Solutions

(d) To determine: To determine whether there will be any effect for the company that sustained.

net loss of $50,000,

depreciation of $22,000,

a gain realized for $9,000, and

available for sale securities for $38,000 cash.