Answer:
a. Payment of interest on notes payable - Operating Activity
b. Exchange of land for patent - Non Cash investing activity
c. Sale of building at book value - Investing Activity
d. Payment of dividends - Financing Activity
e. Depreciation - Operating Activity
f. Receipt of interest on notes receivable - Operating Activity
g. Issuance of Capital Stock - Financing Activity
h. Amortization of patent - Operating Activity
i. Issuance of bonds for land - Non Cash investing activity
j. Purchase of land - Investing Activity
I'd say 12/16 is the answer
Answer:
B) Sales discounts.
Explanation:
Sales Discount is a contra revenue account which is adjusted in the sales to calculate the net sales value.
As the following transaction is already been recorded at the time of sale
Dr. Account receivable xxxx
Cr. Sales xxxx
Sales account will not be debited to adjust the transaction. we will record this transaction in sales discount account which will ultimately adjusted.
Answer:
The incorrect statement is letter "B": Residents of Canada meet the definition as a qualifying person.
Explanation:
Credit for Other Dependent is a tax credit taxpayers can claim for every qualifying dependent that is not considered as a Child Tax Credit (17 years or older and elderly parents). The taxpayer can get up to $500 nonrefundable credit for each of those qualifying dependents. Residents of Canada and Mexico do not meet the definition of qualifying dependent.
