The following transactions are from Zomez Corp. for the year ended December 31, 2020. , Purchase...
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The following transactions are from Zomez Corp. for the year ended December 31, 2020. , Purchase of equity securities for cash (with intent to hold for one year). 2 Increase in prepaid expenses during the year. 1. Increase in deferred revenue for the year. 4 Payment of cash dividends by the company. 5. Cash proceeds from sale of land. 6. Depreciation expense. 7. Purchase of an asset in exchange for stock. 8. Retirement of bonds with cash. 9. Retirement of bonds with issuance of com- 11. Increase in interest payable for the year. 12. Increase in salaries payable for the year. 13. Issuance of bonds for cash. 14. Cash acquisition of patents. 15. Cash principal payment on mortgage. 16. Increase in accounts receivable for the year. 17. Amortization of patents. 18. Loss on sale of equipment. 19. Cash proceeds from sale of used equipment. 20. Increase in bonus payable for the year. mon stock. 10. Cash proceeds from issuance of preferred stock. Required Classify each of the transactions into one of the following categories. a. Operating-addition to net income (indirect method). b. Operating-subtraction from net income (indirect method). c. Cash flows from investing activities. d. Cash flows from financing activities. e. Reported as a noncash investing and/or financing transaction. The following transactions are from Zomez Corp. for the year ended December 31, 2020. , Purchase of equity securities for cash (with intent to hold for one year). 2 Increase in prepaid expenses during the year. 1. Increase in deferred revenue for the year. 4 Payment of cash dividends by the company. 5. Cash proceeds from sale of land. 6. Depreciation expense. 7. Purchase of an asset in exchange for stock. 8. Retirement of bonds with cash. 9. Retirement of bonds with issuance of com- 11. Increase in interest payable for the year. 12. Increase in salaries payable for the year. 13. Issuance of bonds for cash. 14. Cash acquisition of patents. 15. Cash principal payment on mortgage. 16. Increase in accounts receivable for the year. 17. Amortization of patents. 18. Loss on sale of equipment. 19. Cash proceeds from sale of used equipment. 20. Increase in bonus payable for the year. mon stock. 10. Cash proceeds from issuance of preferred stock. Required Classify each of the transactions into one of the following categories. a. Operating-addition to net income (indirect method). b. Operating-subtraction from net income (indirect method). c. Cash flows from investing activities. d. Cash flows from financing activities. e. Reported as a noncash investing and/or financing transaction.
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Accounting Principles
ISBN: 978-1118342190
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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