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Schach [20]
3 years ago
15

An analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Hailey Corp.

uncovered the following items. Assume all items involve cash unless there is information to the contrary.
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (that is, the item would be listed among the adjustments to net income to determine net cash provided by operating activities under the indirect method), investing activity, financing activity, and significant noncash investing and financing activity.
(a) Payment of interest on notes payable.
select an option Investing Activity Financing Activity Operating Activity Noncash Investing and Financing Activity
(b) Exchange of land for a patent.
select an option Noncash Investing and Financing Activity Investing Activity Financing Activity Operating Activity
(c) Sale of the building at book value.
select an option Financing ActivityInvesting Activity Noncash Investing and Financing Activity Operating Activity
(d) Payment of dividends.
select an option Noncash Investing and Financing Activity Operating Activity Financing Activity Investing Activity
(e) Depreciation.
select an option Operating ActivityNoncash Investing and Financing Activity Investing Activity
(f) Conversion of bonds into common stock.
select an option Financing Activity Investing Activity Noncash Investing and Financing Activity Operating Activity
(g) Receipt of interest on notes receivable.
select an option Investing Activity Financing Activity Noncash Investing and Financing Activity Operating Activity
(h) Issuance of capital stock.
select an option Financing Activity Investing Activity Operating Activity Noncash Investing and Financing Activity
(i) Amortization of patent.
select an option Operating Activity Financing Activity Noncash Investing and Financing Activity Investing Activity
(j) Issuance of bonds for land.
select an option Operating Activity Noncash Investing and Financing Activity Investing Activity
(k) Purchase of land.
select an option Financing Activity Investing Activity Operating Activity Noncash Investing and Financing Activity
(l) Receipt of dividends on investment in stock.
select an option Investing Activity Financing Activity Operating Activity Noncash Investing and Financing Activity
(m) Loss on disposal of plant assets.
select an option Noncash Investing and Financing Activity Investing Activity Financing Activity Operating Activity
(n) Retirement of bonds.
select an option Financing Activity Investing Activity Operating Activity Noncash Investing and Financing Activity
Business
1 answer:
docker41 [41]3 years ago
8 0

Answer:                                                                      

                     Item                -                Type of Activity

(a) Payment of interest on notes payable  - Operating

(b) Exchange of land for a patent  - Non cash investing and Financing

(c) Sale of the building at book value - Investing

(d) Payment of dividends - Financing

(e) Depreciation - Operating

(f) Conversion of bonds into common stock - Operating

(g) Receipt of interest on notes receivable - Operating

(h) Issuance of capital stock - Financing

(i) Amortization of patent - Operating

(j) Issuance of bonds for land - Non-cash Investing and financing

(k) Purchase of land - Investing

(l) Receipt of dividends on investment in stock - Operating

(m) Loss on disposal of plant assets - Operating

(n) Retirement of bonds - Financing

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6 0
3 years ago
E2-6 Investment Income LO 2-2, 2-3 What net income would Ravine Corporation have reported for each of the years, assuming Ravine
zheka24 [161]

Answer: investment Income

Explanation: By Carrying  the Investment at fair Value or by using equity method would ensure that the investment income is spread adequately across the Corporation over the years be it two years or three years. This would also help the corporation to make proper planning around their budget and finances as regards to units in the corporation.

4 0
3 years ago
Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable $ 11,000 Accumulated dep
DENIUS [597]

Answer:

                    STARK COMPANY

                  INCOME STATEMENT

      FOR THE YEAR ENDED DECEMBER 31

PARTICULARS                          AMOUNT$

Service Revenue                           20,000

<u>Less-Expenses</u>

Supplies expense           200

Interest expense             500

Insurance expense         1800

Utilities expense             1300

Depreciation expense    2000

Wages expense              7500

Total expenses                              <u>13,300</u>

Net profit                                       <u>$6,700</u>

                              STARK COMPANY

                  STATEMENT OF RETAINED EARNINGS

FOR THE YEAR ENDED DECEMBER 31                       Amount$

Retained earnings December 31 prior year end            14,800

Add- Net income                                                               6,700

Less- Dividends                                                                 3,000

Retained earnings, December 31 Current year end   $18,500

8 0
3 years ago
A company is selling bonds with a face value of $1,000 to raise money for a plant expansion. The bonds pay a coupon rate of 4% p
Ksivusya [100]

Answer:

10.26%

Explanation:

According to the scenario, computation of the given data are as follow:-

Net sales = $760

Face value of bonds = $1,000

Coupon rate = 4% = $1,000 × 4 ÷ 100

= 40

N = Number of Years = 5 annually = semiannually = 5 × 2

= 10 years

We assume, interest rate = 10% = 0.10

P = Coupon Rate ÷ 2 × (PVIFA,Interest Rate ÷ 2%,No. of Years) + Future Value(PVIF,Interest Rate ÷ 2%, No. of Years)

=$40 ÷ 2 × [1 - 1 ÷ (1 + Interest Rate)N] ÷ Interest Rate + Future Value[1 ÷ (1 + Interest Rate) × N]

=$40 ÷ 2 × [1-1 ÷ (1 + 0.10 ÷ 2)^10] ÷ 0.05 + $1,000 × [1 ÷ (1 + 0.10 ÷ 2)^10]

=$20 × [1 - 1 ÷ (1.05)^10] ÷ 0.05 + $1,000 × [1 ÷ (1.05)^10]

=$20 × [1 -1 ÷ 1.6288946] ÷ 0.05 + $1,000 × [1 ÷ 1.6288946]

= 420 × 7.72173 + $1,000 × 0.613913

= $154.4346 + $613.913

= $768.3476

= $768.35

But the given value is 760, so we assume interest rate = 11%

=$40 ÷ 2 × [1-1 ÷ (1 + Interest Rate)^N] ÷ Interest Rate + Future Value[1 ÷ (1 + Interest Rate)^N]

= $40 ÷ 2 × [1 - 1 ÷(1 + 0.11 ÷ 2)^10] ÷ 0.055 + $1,000 × [1 ÷ (1 + 0.11 ÷ 2)^10]

= $20 × [1 - 1 ÷ (1.055)^10] ÷ 0.055 + $1,000 × [1 ÷ (1.055)^10]

= $20 × [1 - 1 ÷ 1.70814446] ÷ 0.055 + $1000 × [1 ÷ 1.70814446]

= $20 × 7.5376255 + $1,000 × 0.5854306

= $150.75 + $585.43

= $736.18

At the Interest rate of 10% the price is more than $760 and at the Interest rate of 1% the price is less than $760. So the required rate lies in between 10% to 11%.

So required rate  

Yield To Maturity = Lower Interest Rate + (Difference Between Interest Rate) × Higher Price - Received Price ÷ Higher Price - Lower Price

= 1 0+( 11 - 10) × $768.35 - $760 ÷ $768.35 - $736.18

= 10 + 1 × $8.35 ÷ $32.17

= 10 + 0.26

= 10.26%

7 0
3 years ago
Total costs for Locke​ &amp; Company at 140 comma 000 units are $ 289 comma 000​, while total fixed costs are $ 195 comma 000. T
Kobotan [32]

Answer: Total variable costs at a level of 260,000 units would be $1,74,460.

Explanation:

Total cost at 140,000 units = $249,000 and

Fixed cost = $195,000

Number of units = 140,000

∴ Total variable cost at 140,000 = Total cost - Total fixed cost

                                                      = 249000 - 195000

                                                       = $94000

Variable cost per unit = \frac{Total\ variable\ cost}{Number\ of\ units}

= \frac{94000}{140000}

= $0.671 per unit

Hence,

Total variable costs at a level of 260,000 units would be = Variable cost per unit × Number of units

= 0.671 × 260,000

= $1,74,460

5 0
3 years ago
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