Consider the following transactions: Requirement 1. Indicate where, if at all, each of the transactions would be
Question:
Requirement
1. Indicate where, if at all, each of the transactions would be reported on a statement of cash flows prepared by the direct method and the accompanying schedule of noncash investing and financing activities.
g. Salary expense 17,000 5,200 a. Land 17,000 Cash 5,200 Cash h. Cash Ь. Сash 9,800 92,000 Common stock 92,000 9,800 Equipment c. Bonds payable i. Treasury stock 36,000 16,300 Cash Cash 16,300 36,000 j. Cash d. Building Note payable 128,000 3,200 128,000 3,200 Interest revenue k. Land c. Cash 2,200 64,000 Accounts reccivable Cash 64,000 2,200 f. Dividends payable 1. Accounts payable Cash 19,800 10,200 10,200 Cash 19,800
Step by Step Answer:
Req 1 a Investing activities g Operating activities b Invest...View the full answer
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Related Video
Treasury stock refers to shares of a company\'s own stock that the company has bought back from its shareholders and now holds as a form of asset on its balance sheet. When a company buys back its own stock, it reduces the number of outstanding shares in the market, which can potentially increase the value of the remaining shares. Treasury stock can be acquired through a variety of methods, such as open market purchases, negotiated transactions, or as a result of converting convertible securities. Companies may buy back their own shares for a number of reasons, including to return capital to shareholders, to signal confidence in the company\'s future, or to use the shares for employee stock option plans. While treasury stock does not pay dividends, it can be reissued by the company at a later time, which could dilute the value of the remaining shares. Companies are required to report their treasury stock holdings in their financial statements.
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