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Sunny_sXe [5.5K]
3 years ago
14

Land Transactions on the Statement of Cash Flows Alpha Corporation purchased land for $211,000. Later in the year, the company s

old a different piece of land with a book value of $93,000 for $101,000. How are the effects of these transactions reported on the statement of cash flows? Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required. If a transaction has no effect on the statement of cash flows, select "No effect" from the drop down menu and leave the amount box blank. Transactions Action Amount Gain or loss on sale of land Deducted from net income $ -8,000 Cash received from sale of land Part of cash flows from investing activities $ Cash paid for purchase of land Part of cash flows used for investing activities $
Business
1 answer:
horsena [70]3 years ago
3 0

Answer:

<u>investing activities:</u>

acquisition of land   (211,000)

sale of land              (101,000)

<u>Operating Activities:</u>

gain on sale: NO EFFECT if direct method is used

                adjusting the net income if the indirect method is used.

Explanation:

The cash disbursmenets and cash proceeds fro mthe purhcase and sale of land respectevely will appear as investing activities.

The gain on the sale will adjust the net incoem if the company used indirect method to determinatethe cash from operating activities.

As is a non-monetary term It will be removed.

If the company used the direct method there will be no mention to the gain on sale.

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Bell Company, a manufacturer of audio systems, started its production in October 2017. For the preceding 3 years, Bell had been
LekaFEV [45]

Answer:

variable cost per unit 150 dollars

Explanation:

As we aren't provided with a volume. We calculate considering variable costying system which onyl count variable cost as cost of goods manufactured:

raw material                            $    75 per unit

labor 5 hours x 14 per hour = $    70 per unit

variable ovehread                   $     5 per unit

Variable cost per unit              $  150 per unit

the fixed overhead cost

5,110 + 3,730 + 1,550 + 6,600 + 8,760 = 25,750

will be considered cost of the period under variable costing

8 0
3 years ago
Research shows that ____ is the number one reason cited for why organizations invest in information technology projects.
timofeeve [1]

Answer:

D

Explanation:

3 0
3 years ago
From 1965 to 2013, women went from 9 percent to _____ percent of u.s. medical students. 52 30 47 12
LUCKY_DIMON [66]
The answer to this question would be: 47%

In 1965, there are just 9% of women that taking medical program but in 2013 the amount is nearly same as the man. The increase is more intense before 1990 which was 40%. It would be 31% increase from 1965. The percentage of the total applicant and the accepted applicant is nearly same, so the increase is mostly done because there are more women applicant in later years.
8 0
3 years ago
Which sentences explain the limitations of financial statements​
rjkz [21]

Answer:

Estimates calculating financial statements are subjective as they involve Management's foresight to arrive to different values.

Explanation:

According to this, subject of fraud is one limitation of financial statements, and this is kind of what it talks about here.

I hope this helps, and as always, I am joyous to assist anyone at any time.

7 0
3 years ago
On July 1, 2011, Hale Kennels sells equipment for $66,000. The equipment was originally purchased on July 1, 2007 at a cost $180
topjm [15]

Answer:

Accumulated Depreciation As of December 31, 2010  = $105,000

Explanation:

<em>Under the straight line method of depreciation, the cost of an asset less the salvage value is spread equally over the expected useful life.</em>

<em>Annual depreciation:</em>

= (cost of assets - salvage value)/ 5 years

= (180,000 -30,000)/5

=.$30,000

<em>From July 1 2007  to December 31 2010 = 3 years 6 months = 42 months</em>

So total accumulated depreciation at the end of 3 years 6 months :

=  ( 30,000/12) ×  42

= $105,000

Accumulated Depreciation As of December 31, 2010 = = $105,000

4 0
4 years ago
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