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scoundrel [369]
3 years ago
13

Identify the following as cash inflows or outflows to a privately-owned water company: well drilling, maintenance, water sales,

accounting, government grants, issuance of bonds, energy cost, pension plan contributions, heavy equipment purchases, used equipment sales, stormwater fees, and discharge permit revenues.
Business
1 answer:
andrey2020 [161]3 years ago
4 0

Answer:

Cash Inflow would be cash coming into the company and Cash Outflow would be going out.

<h2>Cash Inflow</h2>
  • Water Sales
  • Government Grants - money given to the company by the Government to help in its operation
  • Issuance of bonds - Cash inflow from debt issuance
  • Used Equipment sales - cash from sale of used equipment
  • Stormwater fees - paid by customers to take stormwater from property
  • Discharge Permit revenue

<h2>Cash Outflow</h2>
  • Well drilling - drilling well requires cash expenditure
  • Maintenance - cash expense
  • Accounting - Administrative expenditure
  • Energy Cost
  • Pension Plan Contributions - contributing to its employees' pension plans is an expense
  • Heavy Equipment Purchases - Capital expenditure
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Which of the following is not considered a credit?
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Adjusting Entries Journalize the adjusting entry needed at December 31 for each situation. Record debits first, then credits. Ch
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Date       Accounts Titles                Debit         Credit

Dec-31    Salaries expense              $2,300  

                     Salaries payable                         $2,300

Dec-31    Depreciation expense     $200

               (Furniture )

                      Accumulated depreciation        $200

                       (Furniture)

Dec-31    Insurance expense          $450

                       Prepaid Insurance                   $450

Dec-31    Supplies expense             $80

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During January 2016, Wells Corporation purchased $200,000 of inventory; they paid one-fourth in cash, and signed a note for the
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Answer:

Inventory                        $200,000    

Cash                                                      $50,000

Notes payable                                      $150,000

Explanation:

Data provided in the question:

Cost of the inventory purchased = $200,000

Amount paid in cash =  one-fourth

= one-fourth of $200,000

= $50,000

For the remaining balance signed a note i.e = $200,000 - $50,000

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Now,

This transaction will be recorded as:

Inventory                        $200,000    

Cash                                                      $50,000

Notes payable                                      $150,000

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