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zmey [24]
3 years ago
12

Each of these items must be considered in preparing a statement of cash flows for Teal Mountain Company. for the year ended Dece

mber 31, 2022. For each item, state how it should be shown in the statement of cash flows for 2022.
(a) Issued bonds for $300,000 cash. Choose the type of cash inflows and outflows
(b) Purchased equipment for $270,000 cash. Choose the type of cash inflows and outflows
(c) Sold land costing $30,000 for $30,000 cash. Choose the type of cash inflows and outflows
(d) Declared and paid a $75,000 cash dividend.
Business
1 answer:
igomit [66]3 years ago
5 0

Answer:

a. Cash flow from Finance Activities - Cash Inflow  $300,000.

b. Cash flow from Investment Activities - Cash Outflow $270,000.

c. Cash flow from Investment Activities - Cash Inflow  $30,000.

d. Cash flow from Finance Activities - Cash Outflow $75,000.

Explanation:

The Statement of Cash flows shows 3 types of Cash flow headings which are :

  1. Cash flow from Operating Activities
  2. Cash flow from Investment Activities
  3. Cash flow from Financing Activities

Operating Activities are Trading activities. Investing Activities involve buy and sell of assets or investment. Finance Activities involve sourcing of finance

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The accountant for Eva's Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the
amm1812

Answer:

See the errors identified below.

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.

The explanation of the answer is now given as follows:

The following errors can be identified in the accountant's adjusting entries:

1.The accountant debited the account receivable for $5,000 (i.e. $23,250 - $18,250 = $5,000) without crediting laundry revenue.

Therefore, we should have:

Correct amount of laundry revenue = Laundry revenue in trial balance + (Adjusted account receivable - Unadjusted account receivable) = $182,100 + ($23,250 - $18,250) = $187100

2. The accountant debited laundry suppliers expense instead of crediting laundry suppliers for $3,000.

3. The the accountant credited Prepaid insurance for $3,600 (i.e. $5,200 - $1,600 = $3,600). However, the insurance expense was debited for $600.

4. Instead of crediting accumulated depreciation, the laundry equipment for depreciation expense was erroneously credited by the accountant for $13,000.

5. A debit of $1,000 to wages expense was not made by the accountant.

<u>Additional Note:</u>

After correcting the errors identified above, the correct adjusted trial balance will look as the one in the attached photo.

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what is the money an investor receives above and beyond the money initially invested called?a) saving.b)liquidity.c)return.d)inv
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The <span>money an investor receives above and beyond the money initially invested is called C. return.
Saving has to do with saving your money. Liquidity is the ability to pay your bills. Investment is when you invest your money into something, and eventually get it back, if your investment pays off.
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Answer:

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