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MissTica
3 years ago
8

Determine proper classification (LO11-1) Analysis of an income statement, balance sheet, and additional information from the acc

ounting records of Gadgets, Inc., reveals the following items. Required: Select the section of the statement of cash flows in which each of these items would be reported: operating activities (indirect method), investing activities, financing activities, or a separate noncash activities note.
1. Purchase of a patent.
2. Depreciation expense
3. Issuance of a note payable
4. Increase in inventory
Business
2 answers:
alexandr402 [8]3 years ago
7 0

Answer:

Patent-investing activity

depreciation expense-operating activity

issuance of note payable-financing activity

Increase in inventory-operating activity

Explanation:

The purchase of patent as intangible asset is reported as an investing activity item as an outflow of cash from the business.

Depreciation expense is meant to added to net income  in arriving at the net cash flows from operating activities

Issuance of a note payable is a financing item under the financing activities' segment of the cash flow as an inflow.

Increase in inventory is increase in net working capital which is deducted as an operating activity item .

mart [117]3 years ago
7 0

Answer:

1. Purchase of a patent - Investing activities

2. Depreciation expense - Operating activities

3. Issuance of a note payable - Financing activity

4. Increase in inventory - Operating activity

Explanation:

Operating activity of cash flows include cash inflows and cash outflows from day to day business activities. This includes cash flows use from ongoing business activities.

Investing activity of cash flows includes cash inflows and cash outflows from investments of the business. This includes purchase of assets, sale of assets, investment in securities.

Financing activity of cash flows include cash inflows and cash outflows to fund the company. The activities that are incurred to fiance the business are classified as financing activity.

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Josey started a business called music and memories™. She recognized that music, socialization, and memory-challenging activities
Zanzabum

Music and memories™ is best classified as a<u> "non-profit" </u>organization.


A non-profit organization (NPO) is one which isn't driven by benefit yet by commitment to a given reason that is the objective of all wage past what it takes to run the association.  

Non-profit organizations are regularly utilized for trusts, cooperatives, backing, philanthropy, natural and religious gatherings.  

Numerous however not all NPOs have paid staff in administration positions; all utilization volunteers. NPOs have no proprietors for surplus benefits to go to and any surplus subsequent to working costs are utilized to encourage its objectives as opposed to being conveyed between individuals or representatives of the organization.

4 0
4 years ago
A company can act ethically toward employees and meet their expectations by A. improving their products over time and providing
frutty [35]

Answer:

D. creating an occupational structure that fairly and equitably rewards organization members for their contributions

Explanation:

When the company acts ethically for the employees and meeting their expectations so this could be possible when the organization structure is properly developed that represent contribution made by the members of the organization is quite fair and equitable and for the same the rewards is also provided so that they feels motivated

Hence, the option d is correct

4 0
3 years ago
On March 1st, Nichols Corporation purchased 2,000 shares of previously issued common stock, paying $4 per share. On April 1st, N
s2008m [1.1K]

Answer:

The journal entry for the sale of the shares is as:

Explanation:

Cash A/c.......................Dr    $4,000

     Treasury Stock A/c......Cr   $4,000

As there is sale of stock, so the corporation is receiving the cash and any increase in the asset is debited. Therefore, the cash account is debited. And the stock is going out of the business, then decrease in stock is credited. Therefore, the treasury stock account is credited.

Working Note:

Cash = Number of Shares × Price per share

        = 1,000 × $4

        = $4,000

5 0
3 years ago
Most of texas's public policies reflect which political ideology?
Vesna [10]

Most of Texas's public policies reflect which political ideology

Conservative

Correct option is  (D)

What is the public policy process in Texas?

The politics process in Texas begins with the emergence of issues and proceeds through five subsequent stage of agenda settings, policy selection, policy enactment, policy implementation, and policy evaluation.

Who makes policies in Texas?

The legislature meets every odd-numbered year to write down new laws and to find solutions to the problems facing the state. This meeting time, which begins on the second Tuesday in January ands lasts 140 day, is named the regular session. The governor can direct the legislature to satisfy at other times also.

Learn more about Texas public policy:

brainly.com/question/11103438

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6 0
1 year ago
Journalize the entries to record the following selected transactions:
juin [17]

Answer:

   General Ledger                   Dr.          Cr.

1.   Cash                                 $65,940

    Sales Tax Payable                           $3,140

    Sales                                                 $62,800

2.  Cost of Goods Sold        $37,500

    Merchandise Inventory                    $37,500

3.  Sales Tax Payable          $39,650

    Cash                                                  $39,650

Explanation:

Sales tax is subject to 5% which is

Sales Tax  = $62,800 x 5% = $3,140

Total Cash received = $62,800 + $3,140 = $65,940

Cost of the merchandise sold is recorded in the cost of goods sold account.

Tax is paid in cash and Tax payable liability is reduced by a debit entry.

6 0
3 years ago
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