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jek_recluse [69]
3 years ago
9

Firefly Inc. sold land for $225,000 cash. The land has been purchased five years earlier for $275,000. The loss on the sale was

reported on the income statement. On the statement of cash flows, what amount should Firefly report as an investing activity from the sale of the land?
Business
1 answer:
mel-nik [20]3 years ago
5 0

Answer:

Cash inflow of $225,000

Explanation:

Land is a non-current asset and the proceeds from sale of non-current assets form part of<em> investing activities</em>. Firefly Inc. has a cash inflow of $225,000 from the sale of land. So the cash received from sale of land will be added to cash flow from investing activities in the head: <em>Purchase or Sale of an Asset. </em>

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Content area job order costing and process costing are
serious [3.7K]

Correct option is C. Content area job order costing and process costing are  cost accounting systems.

<h3>What is cost accounting?</h3>

Cost accounting is a form of management accounting that captures a company's total costs of production by assessing the variable costs of each stage of production as well as fixed costs, such as overhead costs. rent.

Cost accounting is used internally by management  to make  informed business decisions.

Unlike financial accounting, which provides information to users outside of financial statements, cost accounting is not required to conform to set standards and can be flexible to meet the needs of of the Board of Directors.

Cost accounting takes into account all input costs associated with production, including both variable and fixed costs.

Types of cost accounting include standard costing, activity-based costing, lean costing, and incremental costing.

To learn more about cost accounting from given link

brainly.com/question/26515102

#SPJ4

3 0
2 years ago
To assess risk and return involved in a purchase decision, which practical questions should a potential buyer ask?
Daniel [21]
I think there are about three correct answers from the list. <span>To assess risk and return involved in a purchase decision, a potential buyer should ask the following:

</span><span>What can go wrong?
</span>What are the alternatives?
<span>Is the risk worth the return?

Hope this answers the question. Have a nice day.</span>
6 0
3 years ago
Read 2 more answers
On January 1, 2015, the company purchased equipment that cost $10,000. The equipment is expected to be worth about (or has a sal
anzhelika [568]

Answer:

1    

Dr Fixed asset equipment_________$10000    

Cr Cash_______________________________$10000    

purchased equipment    

   

2    

Dr Depreciation expense____________$1800    

Cr  Acummulate Depreciation_______________$1800    

Anual depreciation    

Explanation:

1    

Dr Fixed asset equipment_________$10000    

Cr Cash_______________________________$10000    

purchased equipment    

   

2    

Dr Depreciation expense____________$1800    

Cr  Acummulate Depreciation_______________$1800    

Anual depreciation    

5 0
3 years ago
Yakov is skilled at making both bracelets and necklaces. Yakov has no preference between making bracelets or necklaces since he
weqwewe [10]

Answer:b. It shifts to the left

Explanation:

The supply will increases as price increases and vice versa. When the price increases and supply also increases the supply curves shifts to the right and when the price decreases and supply equally decreases supply curves shifts to the left.

In the above scenario since bracelet and necklace are exclusive products the sellers will be willing to supply more of necklace since the price has increased and less of bracelet since the price has fallen and the fall in price which leads to fall in supply of bracelet will shift bracelet supply curves to the left.

6 0
4 years ago
Which statement best explains why producers conduct market research? Predicting what the government will do helps producers redu
Blababa [14]

Answer:

Knowing what consumers want helps producers make more money.

Explanation:

The statement that best explains why producers conduct market research would be that Knowing what consumers want helps producers make more money. If the producers know exactly what the consumers want and how much then they can easily create those products knowing that they will sell every last one of them. Therefore eliminating most of the risk involved with production and generating more profit.

5 0
3 years ago
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