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jenyasd209 [6]
3 years ago
14

Which of the following is not an example of a significant noncash transaction? Conversion of bonds into common stock. Sale of pl

ant assets. Issuance of common stock to purchase land. Issuance of debt to purchase equipment. All of the above are significant noncash transactions.
Business
1 answer:
Lostsunrise [7]3 years ago
3 0

Answer:

Sale of plant assets.  If the company<u> sales an equipment it will receive cash </u>for it. We are not given with any information of this transaction not being in cash, so we should assume it was a sale in cash or cash equivalent.

Explanation:

<u>Conversion of bonds into common stock.</u> The bonds, which are outstanding and represent a promise to pay, are converted into common stock, this transaction doesn't involve cash.

<u>Issuance of common stock to purchase land. </u>The land is acquire in exchange of common stock, the company is not using cash. the owner of the land can later sold the stock to a third party but it won't affect the cash flow of the company.

<u>Issuance of debt to purchase equipment </u>Like singing a note to purchase a machine, no cash is involve.

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In its first month of operations, Culver Company made three purchases of merchandise in the following sequence: (1) 205 units at
Oksi-84 [34.3K]

Answer:

$2,450 ; $1,430

Explanation:

The computation of the ending inventory using the periodic inventory system is shown below:

Under FIFO method

= 245 units × $10

= $2,450

We take the last units in this FIFO method

Under the LIFO method

= 205 units × $6 + 40 units × $5

= $1,230 + $200

= $1,430

We take the first units in this LIFO method

Hence, the closing inventory is come

3 0
3 years ago
A statement of cash flows helps answer all of the following:
Lina20 [59]

Answer:

1. What explains the changes in the cash account?

2. Where does a company spends its cash?

4. How does a company receives its cash?

Explanation:

The Cashflow statement deals with the cash transactions of the company with a view to know how actual cash moves through the company. As a result, it can answer questions related to the cash transactions of the company.

This includes:

  • Why there were changes in the cash account because it shows what activities brought in cash and which took cash.
  • Where the company spends its cash because those entries will be shown.
  • Where the company gets its cash as well.
6 0
2 years ago
Cosplay Unlimited sells 1,140 outfits per year at an average price of $143. The terms of the sale are 1/15, net 40. The discount
NARA [144]

Answer: c. $9,937.52

Explanation:

The Accounts receivable balance can be calculated by;

= Outfits per years * Average Price * (Collection period/365)

Collection period;

71% take the discount which means that they pay in 15 days while the rest pay in 40.

= (71% * 15) + (29% * 40)

= 22.25 days

Accounts Receivable balance = 1,140 * 143 * (22.25/365)

= $9,937.52

3 0
2 years ago
Which source is NOT a valid data source for a mail merge?
Vikentia [17]
I think
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7 0
3 years ago
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Cytnhia owns antique furniture that she bought for ​$20000 five ago. cost of owning the furniture for the next year. To compute
Leno4ka [110]

Answer:

The correct answer is B. the expected interest rate for the next year and the current value of the furniture.

Explanation:

To compute the cost of owning the furniture for the next year we need 2 bits of information, the expected interest rate for the next year and the current value of the furniture.

As we need the cost of the next year,  we don´t care about the interest we pay in the past. We need what we have to pay in the future.  

And also ,  we need the current value of the antique furniture so we can know the cost of opportunity of running the antique furniture.  ( If we don´t run this business ,  what can we do with that money?)

6 0
3 years ago
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