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Nookie1986 [14]
3 years ago
6

Croft Company sold land costing $10,000 for $12,000. In the investing activities section of the statement of cash flows, the com

pany will report:_________
Multiple Choice
A) An inflow of $2,000
B) An inflow of $12,000
C) An outflow of $10,000
D) An outflow of $12,000
Business
1 answer:
Nezavi [6.7K]3 years ago
7 0

Answer:

The answer is: B) An inflow of $12,000

Explanation:

Croft Company's cash flow should include the total cash inflow (the company received money) of $12,000. Even if the company bought the land the day before, paying the $10,000 yesterday, the cash flows are independent one from another. It should have recorded the outflow of $10,000 "yesterday".

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It is true that this change would probably be a good move, as it would increase the ROE from 7.5% to 13.5%.

<u>Explanation:</u>

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3 years ago
A company accepts a customer's order on November 30 and immediately delivers the goods to the customer. On December 1, the compa
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Answer:

A) November 30

Explanation:

Based on accrual principle of accounting, revenue is recognized when it is earned and not necessarily when cash is received.

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As such, where a company accepts a customer's order on November 30 and immediately delivers the goods to the customer, revenue is said to be earned (and will be recognized ) on the day of delivery.

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3 years ago
Two options are available for painting your house: (1) oil-based painting, which costs $4,800 and (2) water-based painting, whic
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Answer:

The answer is "Option C".

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The model whose goal is to eliminate waste while satisfying the customer and providing a positive return to the company is: Mult
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Answer:

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Explanation:

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Decision on Accepting Additional Business Homestead Jeans Co. has an annual plant capacity of 65,000 units, and current producti
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Answer and Explanation:

The preparation of the differential analysis is presented below:

Particulars  Order rejected (Alternative 1) order accepted  (Alternative 2) Differential Effect on Income (Alternative 2)

Revenues         $0                                              $576,000     $576,000

                                                                       ($18,000 × $32)

Costs    

Variable Manufacturing Costs $0                   $522,000 -$522,000

                                                                       ($18,000 × $29)

Income (Loss)        $0                                            $54,000    $54,000

We simply deduct the variable manufacturing cost from the revenues so that the income or loss could come

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