1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
brilliants [131]
3 years ago
12

Land costing $71,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement as other expense. On t

he statement of cash flows, what amount should be reported as an investing activity from the sale of land?
a. $71,000
b. $121,000
c. $50,000
d. $21,000
Business
1 answer:
Nataliya [291]3 years ago
4 0

Answer:

c. $50,000

Explanation:

The investing activities of cash flow deals with the actual cash received/paid by the entity/corporation from the investing activities. Since in the given question, the actual cash received by the entity from the sale of lands amounts to $50,000, therefore the $50,000 shall be included in the investing activity section of the Cash flows from the sale of land and accordingly the answer shall be c. $50,000

You might be interested in
Regling Company provides its employees vacation benefits and a defined benefit pension plan. Employees earned vacation pay of $4
Leto [7]

Answer:

A.

Dr Vacation pay expenses $40,000

Cr Vacation pay payable $40,000

B.

Dr Pension expenses $222,750

Cr Cash $185,000

Cr Unfunded pension liability $37,750

Explanation:

Regling Company Journal entries

A.

Dr Vacation pay expenses $40,000

Cr Vacation pay payable $40,000

B.

Dr Pension expenses $222,750

Cr Cash $185,000

Cr Unfunded Pension liability $37,750

8 0
3 years ago
Elka can remember the phone number she just looked up only by repeating it over and over. When she stops saying it out loud, she
Harrizon [31]

Answer:

maintenance; short-term

Explanation:

When she stops saying it out loud, she forgets it. Elka is using maintenance rehearsal to keep the information in short-term memory

Maintenance Rehearsal is the process of repeatedly verbalizing or thinking about a piece of information.

3 0
3 years ago
The balance sheet of the Algonquin Company reported assets of $50,000, liabilities of $22,000 and common stock of $15,000. Based
nlexa [21]

Answer:

c) $13,000.

Explanation:

Using the accounting equation;

Assets - liabilities = Owners' equity

Owners' equity is usually made up of the common stock and the retained earnings.

Therefore, given;

Assets = $50,000

Liabilities = $22,000

Owners' equity = $50,000 - $22,000

= $28,000

Owners' equity = Retained earnings + common stock

Retained earnings = $28,000 - $15,000

= $13,000

Amount for retained earnings is $13,000.

8 0
3 years ago
How does brainstorming improve the final product
sveta [45]
It gives you more ideas to make the final product better than what it original product
6 0
3 years ago
Economics: Which items make up the marketing mix?
Degger [83]

Answer: Price, Product, Promotion and Place.

Explanation:

7 0
3 years ago
Read 2 more answers
Other questions:
  • Edith Engineer travels from city to city to conduct her business. Every other year she buys a used car for about $12,000. The de
    11·2 answers
  • Suppose that goods x and y are substitutes and the price of good y falls. we would then expect
    10·1 answer
  • Acme Enterprises began the new year owing its suppliers $3,000 for merchandise purchased last year. Acme then sold half of this
    9·1 answer
  • Flask Company reports net sales of $4,000 million; cost of goods sold of $3,600 million; net income of $720 million; and average
    7·1 answer
  • Common ownership interest in a business, sharing profits (or losses) of a business, and the right to participate in managing the
    6·1 answer
  • Interim financial statements: Multiple Choice Are required by the Congress. Are necessary to achieve full disclosure about a bus
    13·1 answer
  • Geraldo is a customer care executive at a telecommunications service provider. He receives a complaint from a customer about an
    15·1 answer
  • The strategy that founder Seth Goldman used to get Honest Tea on the shelves alongside larger, established brands was:
    12·1 answer
  • Ownership is held in ________ when all the rights of ownership in a particular piece of property are held by one person
    13·1 answer
  • Knowledge Check 01
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!