Consider the following transactions: (a) Purchased equipment for $130,000 cash (b) Issued $14 par preferred stock for
Question:
(a) Purchased equipment for $130,000 cash
(b) Issued $14 par preferred stock for cash
(c) Cash received from sales to customers of $35,000.
(d) Cash paid to vendors, $17,000.
(e) Sold building for $19,000 gain for cash.
(f) Purchased common treasury shares for $28,000
(g) Paid a notes payable with 1,250 of the company’s common shares
Requirement
1. Identify the category of the statement of cash flows in which each transaction would be reported.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (17 reviews)
Req 1 a Investing activities b Financ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Question Posted:
Students also viewed these Accounting questions
-
Consider the following transactions for Judys Sofas: (a) Incurred and paid Web site expenses, $2,900. (b) Incurred manufacturing wages of $15,000, 60% of which was direct labor and 40% of which was...
-
Consider the following transactions for Jo Jo Music. 2011 Dec 6 Received a $7,000, 90-day, 12% note on account from Dark Star Music. 31 Made an adjusting entry to accrue interest on the Dark Star...
-
Consider the following transactions of Pearl Software: Mar 31 Recorded cash sales of $180,000, plus sales tax of 8% collected for the state of Texas. Apr 6 Sent March sales tax to the state....
-
Dr. Bold has a personal automobile policy with liability limits as follows: $100,000/$300,000 BI and $50,000 PD. Dr. Bold is held liable in an accident in which he must pay for bodily injuries as...
-
Hohenberger Farms purchased real estate for $1,280,000, which included $5,000 in legal fees. It paid $255,000 cash and incurred a mortgage payable for the balance. The real estate included land that...
-
In Exercises 3748, determine whether each function is even, odd, or neither. Then determine whether the functions graph is symmetric with respect to the y-axis, the origin, or neither. f(x)=x1-x
-
What is an advantage of calculating all three measures of central tendency?
-
Archer Uniforms, Inc., is a distributor of professional uniforms to retail stores that sell work clothing to professionals, such as doctors, nurses, security guards, etc. Traditionally, most of the...
-
Assume that ABC Insurance Company has purchased from QS Reinsurance Company a quota share treaty with a $500,000 limit and a retention of 30 percent and a cession of 70 percent. ABC has written...
-
How was writing a business plan and preparing for a business plan competition helpful to Katie Beauchamp and Hayley Barna while Birchbox was still in the planning, testing, and prototyping stage?
-
Andersons Armoires reported net loss for the year of $25,000; however, it reported an increase in cash balance of $50,000. The CFO states, Andersons Armoires would have shown a profit were it not for...
-
The cash flow statement categorizes like transactions for optimal reporting. Requirement 1. Identify each of the following transactions as one of the following: Operating activity (O) Investing...
-
Juan helps support his mother Maria, his son Jose, and a niece Norma. How many dependency exemptions can Juan claim given these additional facts? Maria lives with Juan. She receives $12,000 of Social...
-
Ms. Schmidt didn't request an extension of time to file a 2022 income tax return and didn't mail the completed return to the IRS until August 8, 2023. Ms. Schmidt enclosed a check for $2,450, the...
-
What strategies can organizations employ to foster a culture of resilience, integrating principles of positive psychology and organizational resilience theory?
-
What role do existential philosophies and the contemplation of meaning play in bolstering existential resilience amidst existential crises and existential threats?
-
Suppose you borrow $7,800 from a local bank and promise to repay this amount at the end of 3 years at the interest rate of 9%, how much would you have to repay (FV)?
-
Year r i r M 2019 12% 10% 2020 25% 18% 2021 16% 15% Calculate the beta of stock i.
-
How much unpaid family or medical leave must an employer with fifty or more employees provide?
-
Quadrilateral EFGH is a kite. Find mG. E H <105 G 50 F
-
Compare the following two queries: Which of the following statements is correct? a. Result query 1 is always = result query 2 because PURCHASE_ORDER contains only unique purchase orders. b. Result...
-
a. How is a predetermined factory overhead rate calculated? b. Name three common bases used in calculating the rate.
-
a. How is a predetermined factory overhead rate calculated? b. Name three common bases used in calculating the rate.
-
a. What is (1) Overapplied factory overhead and (2) Underapplied factory overhead? b. If the factory overhead account has a debit balance, was factory overhead underapplied or overapplied? c. If the...
-
respond to the following : Hi Kassim, "Given that you have successfully applied these steps to pay down your car loan faster, how would you adapt this financial plan if you were to encounter a...
-
The Impact of Artificial Intelligence in the Accounting Profession: Challenges and Opportunities: The accounting profession has been undergoing significant transformations with the advent of...
-
The following is an alphabetical list of accounts and balances for J. Robinson, proprietorship at June 30, 2024 Accounts Payable $13,300 Notes Payable $31, 800, Accounts Receivable $10, 850 Prepaid...
Study smarter with the SolutionInn App