During 2015, Pencils and More Ltd purchased equipment but paid for it with the issue of 2
Question:
During 2015, Pencils and More Ltd purchased equipment but paid for it with the issue of 2 million $1 ordinary shares. Indicate how the transaction would be reported in a statement of cash flows, if at all.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
answer The transaction ...View the full answer
Answered By
Maurat Ivan
I have been working in the education and tutoring field for the past five years, and have gained a wealth of experience and knowledge in this area. I have a bachelor's degree in education, and have completed additional coursework in teaching and tutoring.
In my previous roles, I have worked as a teacher in both private and public schools, teaching a variety of subjects including math, science, and English. I have also worked as a private tutor, providing one-on-one tutoring to students in need of additional support and guidance.
In my current role, I work as an online tutor, providing virtual tutoring services to students around the world. I have experience using a variety of online tutoring platforms and technologies, and am comfortable working with students of all ages and skill levels.
I am passionate about helping students succeed and reach their full potential, and I believe that my education and tutoring experience make me an excellent candidate for a tutoring job at SolutionInn. I am confident that my knowledge, skills, and experience will enable me to provide top-quality tutoring services to students on the SolutionInn platform.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting Reporting Analysis And Decision Making
ISBN: 9780730313748
5th Edition
Authors: Shirley Carlon, Rosina Mladenovic Mcalpine, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong
Question Posted:
Students also viewed these Business questions
-
How should the proceeds of debt be reported in a governmental fund's statement of revenues, expenditures, and changes in fund balances? a. As a revenue b. As an "other financing source" c. As an...
-
Indicate where each item would appear on a statement of cash flows using the direct method by placing an x in the appropriate column. Noncash Not Statement of Cash Flows Investing and Financing...
-
Use the following legend to indicate how each transaction would be reported on the statement of cash flows. (Assume that the company uses the direct method in the Operating Activities section.) IO =...
-
In its processing of peanuts this month, Whispering added $3,275 of DM from its warehouse directly into the roasting process, where there was an existing beginning WIP Inventory balance of $1,475....
-
Consider the data given in Problem 12.11 for futures contracts on SINDY index. Suppose you have to pay transaction costs: (1) When you go long or sell short a portfolio of stocks, transactions costs...
-
The Aubey Coffee Company is evaluating the within-plant distribution system for its new roasting, grinding, and packing plant. The two alternatives are (1) a conveyor system with a high initial cost,...
-
Are conventional financial accounting and external ecological accounting complements to each other or substitutes for each other? Discuss.
-
Grim Corporation has income and expenses for its current fiscal year, recorded under generally accepted accounting principles, as shown in the following schedule. In addition, a review of Grims books...
-
Hampton Company reports the following information for its recent calendar year. Income Statement Data Sales Expenses: Cost of goods sold Salaries expense Depreciation expense Net income $ 71,000...
-
The following are summaries of the cash book and bank accounts of Patsy Knight, a sole proprietor, who does not keep her books using the double entry system. Bank Summary Balance on I January 2018...
-
The 2016 accounting records of Home and Away Travels Ltd reveal the following transactions and events. Required Prepare the cash flows from the operating activities section of the statement of cash...
-
Condensed financial data of Takahashi Electronics Pty Ltd follow. Additional information: 1. New equipment and machinery were purchased for cash during the year. 2. Investments were sold at cost. 3....
-
(a) Draw a scatter diagram of the data, (b) By hand, compute the correlation coefcient, and (c) Determine whether there is a linear relation between x and y. y 10 9 7 4 2
-
NewTone, Inc makes MP3 players and uses standard costing. They recently used 21,000 labor hours to produce 8,000 units. They originally budgeted 20,000 hours to produce 11,000 units with payroll of...
-
http://www.ted.com/talks/richard_wilkinson Watch the following video of Richard Wilkinson How economic inequality harms societies from Ted Talks. Post a brief analysis of the lecture.
-
Katherine Green is single with $ 164, 0 0 0 in gross income from her job at the Caitlin Bank. During the year she had $ 4 , 800 in adjustments. She had $ 2 3 , 0 0 0 in eligible 7 . 5 % medical...
-
How do resilient leaders cultivate emotional resilience, cognitive flexibility, and stress coping mechanisms to navigate adversity, setback, and failure in high-pressure environments, fostering a...
-
What discount rate would ensure a sustainable harvest is set to Maximum Sustainable Yield?
-
What does a T-account represent? What is the left side of the T-account called? What is the right side called?
-
Show that every group G with identity e and such that x * x = e for all x G is abelian.
-
The governor of your state stated in a recent political speech that he has never supported any income tax increases as the tax rates have remained at the same level during his entire term of office....
-
Carmen has computed that her average tax rate is 16% and her marginal tax rate is 25% for the current year. She is considering whether to make a charitable contribution to her church before the end...
-
Why are the gift and estate taxes called wealth transfer taxes? What is the tax base for computing each of these taxes?
-
Jack is at Walmart and has been accused of shoplifting. Using the Shopkeepers privilege, discuss what Walmart is and isn't allowed to do from when they initially approach him all the way until the...
-
During the first 10 years of DHS , what were some successes/strengths and failures/weaknesses of the new agency. How efficient and effective is it to have so many functions housed with one agency?...
-
Calculate the number of units to be produced in May if your desired ending inventory is 40% of the next month's sales, beginning finished goods inventory for May was 36,000 units, May's sales are...
Study smarter with the SolutionInn App