Answer:
The cash payment is included in investing activity.
Explanation:
Items included in investing activity refers to assets that are used by the company, such as land, equipments and building.
A mortgage note payable is an example of a financing activity. Here the company has secured financing for it's acquisition by way of mortgage.
Importing
What is Importing?
An import is an item or service that is purchased outside of its nation of origin. International trade is made up of imports and exports. A country has a negative trade balance, or a trade deficit, if the value of its imports exceeds the value of its exports. Since 1975, the US has had a trade imbalance. The U.S. Census Bureau estimates that in 2019, the deficit was $576.86 billion.
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Answer:
Resource Market or Product Market
1. Identifying whether each of the following events in this scenario occurs in the resource market or the product market:
a. Alex earns $250 per week working for Little Havana. (Resource Market / Product Market)
b. Becky spends $10 to order a mojito cocktail. (Resource Market / Product Market)
c. Becky earns $650 per week working for A-Plus Accountants. (Resource Market / Product Market)
2. The elements of this scenario that represent a flow from a household to a firm are:
a. The $250 Alex spends to purchase tax services from A-Plus Accountants.
b. Becky's labor
Explanation:
The resource market is the market where firms buy resources for the production of goods and services. This means that the resource market deals in the transfer of inputs: labor, capital, land, and entrepreneurship from households to firms. In the product market, households buy output, i.e. goods and services from firms.
Answer:
A. $190,000
Explanation:
The breakdown analysis of Balance Sheet and Income Statement in terms of Cash in the form of Operating, Investing and Financing activities is known as Cash Flow Statement or the Statement of Cash Flows.
In Investing Activities Cash Flow we simply add Cash Proceeds from the sale of assets and subtract any proceeds from the purchases. The difference between the two is called Cash Flow from investing activities and it how much cash surplus or deficit we have from Investing Activities of Cash.
In the Statement of Cash Flows calculating Net Cash provided by investing activities is simple. Simply add Sale of Land, Sale of Equipment and Issuance of Common Stock. Subtract Purchase of Equipment from it and you will get the Net Cash Flow from Investing Activities.
Payment of Cash Dividend is the Financing Activities item so will not be taken into consideration in Investing Activities Cash flow as follows:
(+) Sale of Land $100,000
(+) Sale of Equipment $50,000
(+) Issuance of Common Stock 70,000
(-) Purchase of Equipment $30,000
NET CASH FLOW from INVESTING ACTIVITIES $190,000
Answer:
The Journal entries are as follows:
(a) On June 10,
Account Receivables A/c Dr. $6,300
To sales $6,300
(To record sale of merchandise)
(b) On June 12,
(i) Sales Return & allowance A/c Dr. $300
To Account Receivables $300
(Being Merchandise return by customer)
(ii) Merchandise Inventory A/c Dr. $70
To Cost of goods sold $70
(To record cost of merchandise returned)
(c) On June 19,
Cash A/c Dr. 5,940
Sales discount A/c Dr. 60
To Account Receivable $6,000
(Being Amount actually received on Credit sale after allowing discount)