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Rina8888 [55]
3 years ago
15

An analysis of comparative balance sheets, the current year’s income statement, and the general ledger accounts of Wellman 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 (indirect method), investing activity, financing activity, and significant noncash investing and financing activity.

(a) Payment of interest on notes payable. An analysis of comparative balance sheets, the cur Investing ActivityOperating ActivityFinancing ActivityNoncash Investing and Financing Activity
(b) Exchange of land for patent. An analysis of comparative balance sheets, the cur Investing ActivityNoncash Investing and Financing ActivityOperating ActivityFinancing Activity
(c) Sale of building at book value. An analysis of comparative balance sheets, the cur Investing ActivityFinancing ActivityOperating ActivityNoncash Investing and Financing Activity
(d) Payment of dividends. An analysis of comparative balance sheets, the cur Investing ActivityOperating ActivityFinancing ActivityNoncash Investing and Financing Activity
(e) Depreciation. An analysis of comparative balance sheets, the cur Noncash Investing and Financing ActivityOperating ActivityFinancing ActivityInvesting Activity
(f) Receipt of dividends on investment in stock. An analysis of comparative balance sheets, the cur Financing ActivityInvesting ActivityNoncash Investing and Financing ActivityOperating Activity
(g) Receipt of interest on notes receivable. An analysis of comparative balance sheets, the cur Operating ActivityFinancing ActivityInvesting ActivityNoncash Investing and Financing Activity
(h) Issuance of common stock. An analysis of comparative balance sheets, the cur Investing ActivityNoncash Investing and Financing ActivityOperating ActivityFinancing Activity
(i) Amortization of patent. An analysis of comparative balance sheets, the cur Noncash Investing and Financing ActivityOperating ActivityFinancing ActivityInvesting Activity
(j) Issuance of bonds for land. An analysis of comparative balance sheets, the cur Financing ActivityNoncash Investing and Financing ActivityInvesting ActivityOperating Activity
(k) Purchase of land. An analysis of comparative balance sheets, the cur Financing ActivityNoncash Investing and Financing ActivityOperating ActivityInvesting Activity
(l) Conversion of bonds into common stock. An analysis of comparative balance sheets, the cur Financing ActivityInvesting ActivityOperating ActivityNoncash Investing and Financing Activity
(m) The loss on the sale of land. An analysis of comparative balance sheets, the cur Financing ActivityInvesting ActivityOperating ActivityNoncash Investing and Financing Activity
(n) Retirement of bonds. An analysis of comparative balance sheets, the cur Investing ActivityOperating ActivityFinancing ActivityNoncash Investing and Financing Activity`
Business
1 answer:
dolphi86 [110]3 years ago
8 0

Answer:

A

Explanation:

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On August 1, 1958, first-class postage for a 1-ounce envelope was 4 cents. On August 1, 2007, a first-class stamp for the same e
Andrej [43]

Answer:

4.86%

Explanation:

Given that,

First-class postage for a 1-ounce envelope = 4 cents

On August 1, 2007

A first-class stamp for the same envelope cost = 41 cents

Period, n = 49 years

F=P(1+i)^{n}

41=P(1+i)^{49}

\frac{41}{4}=(1+i)^{49}

10.25\ cents=(1+i)^{49}

1.0486=(1+i)

i = 1.0486 - 1

 = 0.0486 or 4.86%

Therefore, the interest rate is 4.86%.

3 0
3 years ago
What are specialist shops​
weeeeeb [17]
A shop that sells one type of thing
6 0
3 years ago
When cell phones were first entering the market, they were relatively large and reception was undependable. All cell phones were
ahrayia [7]

Answer:

<em><u>The correct answer is:  </u></em>Markets evolve toward greater heterogeneity over time.

Explanation:

The history of cell phones shows a marketing trend that markets evolve towards greater heterogeneity over time.

This occurs in relation to market segmentation, that is, organizations identify groups of consumers with similar tastes and develop all their marketing actions to reach a certain demand according to their needs, tastes and preferences. Market segmentation creates a heterogeneous market, with differentiated products in terms of functionality, design, price, benefits, etc., so that existing demands are met.

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3 years ago
Prepare the journal entries to record the following transactions for Reese Company, which has a calendar year end and uses the s
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Answer:

Reese Company Journal entries

September 30, 2017

Dr Depreciation Expense 12,000

Cr Accumulated Depreciation -Equipment 12,000

(To record depreciation expense)

Dr Cash 46,000

Dr Accumulated Depreciation-Equipment 44,000

Dr Loss on Disposal of Plant Assets 6,000

Cr Equipment 96,000

(To record sale of delivery equipment at a loss)

b)On June 30, 2017

Dr Cash 24,000

Dr Accumulated Depreciation-Equipment 15,000

Cr Equipment 36,000

Cr Gain on Disposal of Plant Assets 3,000

(To record sale of office equipment at a gain)

Explanation:

a.September 30, 2017

Calculation for Depreciation Expense and Accumulated Depreciation -Equipment

We have to record depreciation expense for the first 9 months of 2017 which is

$80,000 ÷ 5 years = $16,000 ×9/12 = $12,000

Calculation for Accumulated Depreciation-Equipment:

($32,000 + $12,000) =44,000

Calculation for Loss on Disposal of Plant Assets

($52,000 – $46,000) =6,000

b)On June 30, 2017

Calculation for Gain on Disposal of Plant Assets

($24,000 – $21,000)=3,000

7 0
3 years ago
Profit Inc., a manufacturing firm, has purchased raw materials worth $10,000 on credit from its vendors. The business plans to s
andrezito [222]

Profit Inc., a manufacturing firm, has purchased raw materials worth $10,000 on credit from its vendors. The business plans to settle the vendor’s full payment after two months. Under "current liabilities"section of balance sheet this account will be recorded as "account payable".

Answer: Option (B) is correct

<u>Explanation:</u>

Raw material purchased on credit from a vendor is a liability and it is shown under current liabilities in "accounts payable". Since raw material purchased on credit and payment is to be made after two months.

Payment due gives rise to liability. Now current liability is a company's short term obligations that are to be paid back within a year. Here the firm will have to make payment within two months to the vendor.

8 0
3 years ago
Read 2 more answers
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