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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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The following selected amounts are available for Thomas Company.Retained earnings (beginning) $2,500Net loss 200Cash dividends d
AfilCa [17]

Answer:

c. $1,900

Explanation:

As for the information provided, we have:

Retained Earnings opening balance = $2,500

Current year loss = $200

Balance of retained earnings after this = $2,500 - $200 = $2,300

Now, dividends are provided which shall be paid from retained earnings only.

Cash dividends are the one paid in cash.

Stock dividends are the ones which are paid by issue extra shares from retained earnings.

Thus, both are deductible from retained earnings.

Therefore, closing balance of retained earnings = $2,300 - $200 - $200 = $1,900.

4 0
3 years ago
An application of the Law of Supply is,
tino4ka555 [31]

Answer:The law of supply says that a higher price will induce producers to supply a higher quantity to the market. Supply in a market can be depicted as an upward sloping supply curve that shows how the quantity supplied will respond to various prices over a period of time.

Explanation:

3 0
3 years ago
In the opinion of the author, an engineer has a moral obligation to whistle blow two additional criteria must be met: the engine
Klio2033 [76]

Answer:

True

Explanation:

Richard De George is known for his work in business ethics. He discussed the conditions to permit whistle-blowing.

According to De George, whistle-blowing is permitted as moral authority when these 3 conditions are met:

1) The harm that will be done by the product [or company action] to the public is severe and considerable.

2) The engineer has told their superiors about their concern

3) The engineer has not received a satisfactory answer from their supervisors and also from other superiors and he is left with no other alternatives.

According to De George, whistle-blowing is mandatory as moral duty when these 2 additional conditions are met:

4) The engineer must have documented evidence that would convince a reasonable observer that his or her view is correct

5) There must be strong evidence that making the information public will in fact prevent the threaten serious harm.

7 0
3 years ago
Crane Corporation's computation of cost of goods sold is:
slava [35]

Answer:

16.64 days

Explanation:

Given the above information, we will calculate the average days to sell inventories with the formula below;

Average days to sell inventories = [Ending inventory / Cost of goods sold] × 100

Ending inventory = $72,000

Cost of goods sold = $432,800

Then, Average days to sell inventories

= [$72,000 / $432,800] × 100

= 16.64 days

Therefore, the average days to sell inventory for Fry are 16.64 days

5 0
3 years ago
93) Jack Corporation purchased a 20% interest in Jill Corporation for $1,500,000 on January 1, 2021. Jack can significantly infl
Yanka [14]

Answer:

$1,200,000

Explanation:

Jack Corporation

Carrying value before net loss:

($1,500,000 - (20% x $1,000,000))

=$1,500,000-$200,000

= $1,300,000

Jack's share of net loss recognized in full:

20% x $6,000,000

= $1,200,000

Therefore the amount of loss should Jack report in its income statement for 2021 relative to its investment in Jill will be $1,200,000

8 0
3 years ago
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