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Liula [17]
3 years ago
15

Classifying Cash Flows - Identify whether each of the following would be reported as an operating, investing, or financing activ

ity on the statement of cash flows:
a. Retirement of bonds payable
b. Purchase of inventory for cash
c. Cash sales
d. Repurchase of common stock
e. Payment of accounts payable
f. Disposal of equipment
Business
1 answer:
Yanka [14]3 years ago
8 0

Answer:

<em><u>Classifying Cash Flows:</u></em>

Retirement of bonds payable  ⇒  <em><u>Financing activity</u></em>

Purchase of inventory for cash  ⇒  <u><em>Operating activity</em></u>

Cash sales  ⇒  <u><em>Operating activity</em></u>

Repurchase of common stock  ⇒  <em><u>Financing activity</u></em>

Payment of accounts payable  ⇒  <u><em>Operating activity</em></u>

Disposal of equipment ⇒  <em><u>Investing activity</u></em>

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Answer:

Thank the representative and accept the offer to cover expenses of your participation.

Explanation:

The response that would be most effective for helping you to make an ethical decision is to thank the representative and accept the offer to cover expenses of your participation.

For being invited to participate on an expert panel that will be held at an upcoming professional conference is such a great privilege and opportunity, thus, you should first express your gratitude for the honor and accept the offer covering your expenses.

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4 0
3 years ago
Mostert Music Company had the following transactions in March: Sold music lessons to customers for $12,050; received $6,650 in c
bezimeni [28]

Answer:

Under Cash Basis all transactions for which cash is exchanged whether paid or received is accounted for.

Cash Basis Income Statement

Sales Revenue = $6,650

Customer Deposits = $4,550

Total Revenue = $11,200

Less: Expenses:

Wages              = ($700)

Net Income = $10,500

Under Accrual basis, the transactions are recorded as to the period they relate, and it is not necessary to exchange cash for the same.

Accrual Basis Income Statement

Sales Revenue = $12,050

Total Revenue = $12,050

Expenses

Wages = ($700)

Utilities = ($330)

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7 0
3 years ago
For a recent year, Best Buy reported sales of $42,410 million. Its gross profit was $9,690 million. What was the amount of Best
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Answer:

The amount of Best Buy's cost of goods sold was $32,720 million

Explanation:

cost of goods sold = sales - gross profit

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Therefore, The amount of Best Buy's cost of goods sold was $32,720 million

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Explanation:

Hope this helps. :D

4 0
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