Question

Springsteen Co. had the following activity in its most recent year of operations.
(a) Pension expense exceeds amount funded.
(b) Redemption of bonds payable.
(c) Sale of building at book value.
(d) Depreciation.
(e) Exchange of equipment for
(f) Issuance of ordinary shares.
(g) Amortization of intangible assets.
(h) Purchase of treasury shares.
(i) Issuance of bonds for land.
(j) Payment of dividends.
(k) Increase in interest receivable on furniture. notes receivable.
(l) Purchase of equipment.
Instructions
Classify the items as
(1) Operating—add to net income;
(2) Operating—deduct from net income;
(3) Investing;
(4) Financing; or
(5) Significant non-cash investing and financing activities. Use the indirect method.



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  • CreatedOctober 11, 2011
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