Answer:
The answer is stated below:
Explanation:
The effects of the transactions which should be reported on the cash flow statement is shown as:
The sale and the purchase of the land are the part of the cash flow from investing activities as:
Cash paid for the purchase of land................................. ($400,000)
Cash received from the sale of land................................ $240,000
The gain on sale of the land is reported under the cash from operating activities, it is deducted from net income.
Gain on sale of land................................... ($40,000)
Note: (), this depict the minus sign.
Working notes:
Gain on sale of land = Sale value - Book value
= $240,000 - $200,000
= $40,000
Answer:
The partnership and all three partners will be liable on the contract for the antiques.
Explanation:
According to the scenario been described in the question, the option that best explain the it is the partnership and all three partners will be liable on the contract for the antiques, this is so because the three are members of the same board and they share whatever comes to their way.
Answer:
Option (a) $114,000
Explanation:
Data provided in the question:
Dividend declared = $240,000
Shares outstanding = 9,000
Interest = 7%
Now,
Value of share = $100 × 9,000
= $900,000
Dividend to Preference Stock Holders Arrears = 7% of Value of share
= 0.07 × $900,000
= $63,000
Dividend to Preference Stock Holders = $63,000
Therefore,
Dividend to Common Stock Holders
= $240,000 - $63,000 - $63,000
= $144,000
Option (a) $114,000
Answer:
Assume that all intellectual property is copyrighted.
Explanation:
Copyright infringement <u>involves using someone else's work that is protected by copyright laws, without permission from the copyright holder.</u>
To avoid copyright infringement charges, one should assume that all intellectual property is copyrighted and should request for permission before use.