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katrin2010 [14]
3 years ago
7

Listed below are transactions that might be reported as investing and/or financing activities on a statement of cash flows. Poss

ible reporting classifications of those transactions are provided also.
Required:
Indicate the reporting classification of each transaction by entering the appropriate classification code. (The first item is provided as an example.)

Classifications
+ I Investing activity (cash inflow)
– I Investing activity (cash outflow)
+ F Financing activity (cash inflow)
– F Financing activity (cash outflow)
N Noncash investing and financing activity
X Not reported as an investing and/or a financing activity


Classifications Transactions
+I 1. Sale of land.
2. Issuance of common stock for cash.
3. Purchase of treasury stock.
4. Conversion of bonds payable to common stock.
5. Lease of equipment.
6. Sale of patent.
7. Acquisition of building for cash.
8. Issuance of common stock for land.
9. Collection of note receivable (principal amount).
10. Issuance of bonds.
11. Issuance of stock dividend.
12. Payment of property dividend.
13. Payment of cash dividends.
14. Issuance of short-term note payable for cash.
15. Issuance of long-term note payable for cash.
16. Purchase of marketable securities ("available for sale").
17. Payment of note payable.
18. Cash payment for five-year insurance policy.
19. Sale of equipment.
20. Issuance of note payable for equipment.
21. Acquisition of common stock of another corporation.
22. Repayment of long-term debt by issuing common stock.
23. Payment of semiannual interest on bonds payable.
24. Retirement of preferred stock.
25. Loan to another firm.
26. Sale of inventory to customers.
27. Purchase of marketable securities (cash equivalents).
Business
1 answer:
andrew-mc [135]3 years ago
6 0

Answer:

Investing Activities refer to cashflow activities that have to do with Fixed assets as well as the ownership of the securities of other companies.

Financing Activities refer to cashflow activities that have to do with how the company sources funds for the company so this includes Equity related activities and long term liabilities.

1. Sale of land.  +I

2. Issuance of common stock for cash.  +F

3. Purchase of treasury stock.  -F

4. Conversion of bonds payable to common stock.  N

5. Lease of equipment.  N

6. Sale of patent.  +I

7. Acquisition of building for cash.  -I

8. Issuance of common stock for land.  N

9. Collection of note receivable (principal amount).  +I

10. Issuance of bonds.  +F

11. Issuance of stock dividend.  X

12. Payment of property dividend.  X

13. Payment of cash dividends.  -F

14. Issuance of short-term note payable for cash.  +F

15. Issuance of long-term note payable for cash.  +F

16. Purchase of marketable securities ("available for sale").  -I

17. Payment of note payable.  -F

18. Cash payment for five-year insurance policy.  X

19. Sale of equipment.  +I

20. Issuance of note payable for equipment.  N

21. Acquisition of common stock of another corporation.  -I

22. Repayment of long-term debt by issuing common stock.  N

23. Payment of semiannual interest on bonds payable.  X

24. Retirement of preferred stock.  -F

25. Loan to another firm.  -I

26. Sale of inventory to customers.  X

27. Purchase of marketable securities (cash equivalents). X

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On January 1, 2018, Byner Company purchased a used tractor Byner paid $3,000 down and signed a noninterest-bearing note requirin
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Answer:

tractor   35,127,42 debit

      note payable         32,172.42  credit

     cash                           3,000     credit

--to record issuance--

Note payale end of 2018

39,584.19

note payables at Dec 31th

Note payable at the end of 2019

39,584.19

note payables at Dec 31th

Explanation:

As the note has zero.interest we discount the note to get the present value:

\frac{Maturity}{(1 + rate)^{time} } = PV  

Maturity  $44,000.0000  

time   3.00  

rate  0.11

\frac{44000}{(1 + 0.11)^{3} } = PV  

PV   32,172.42  

The difference will be a discount that will acrrue interest overtime.

the truck will enter the accounting net of interest charges thus:

3,000 downpayment + 32,127.42 = 35,127.42‬

interest will be: 32,127.42 x 1.11 = 32,127.41

<u><em>Then, do the same for 2019</em></u>

(32,127.41 + 3,532.0162) x 1.11 = 39,584.19

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learn more about overhead account from here:

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