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dangina [55]
3 years ago
5

Cash flows from investing activities include: Multiple Choice Cash outflows from acquiring land. Proceeds from the issuance of c

ommon stock. Retirement of bonds payable. Interest received.
Business
1 answer:
SOVA2 [1]3 years ago
4 0

Cash flows<em> from investing</em> activities contain the following things and include:

  • Cash outflows from acquiring land

According to the given question, we are asked to state what the cash flow from investing activities contains based on the list of available choices.

As a result of this, we can see that cash flows which are gotten from investing activities includes the cash that has either been made or spent on a fixed asset like land or properties that are expected to generate profit in the future.

Therefore, the correct answer is Cash outflows from acquiring land

Read more cash flows here:

brainly.com/question/735261

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Lewelling Company issued 101,000 shares of its $1 par common stock to the Michael Morgan law firm as compensation for 4,100 hour
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Answer:

Paid in capital excess of par is $$309,000

Explanation:

<u>Journal Entries</u>

Debt: Legal services (4,100 hours × $100 per hour)  = $410,000

Credit: Common stock (101,000 shares × $1 par)  = $101,000

Credit: Paid-in capital - excess of par (Remainder)  = $309,000

To record the 101,000 shares compensated by 4,100 legal hours with $1 par value)

In the above transaction common stock issued in excess of par for legal services as compensation instead cash. Hence "legal services" have been debited as issuing company benefited for legal services. "Common stock" and "paid in capital in excess of par" has been credited as this issuing company issuing common stock.

Paid in capital excess of par is $$309,000

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3 years ago
1. Compute (a) the cost of goods purchased and (b) the cost of goods sold.
Cerrena [4.2K]

Answer and Explanation:

1. The computation is shown below:

(a) For the cost of goods purchased

Purchases                                      $260,000

Add: Merchandise freight-in        $10,000

Less: Purchase returns

and allowances                       $(11,000)

Purchase discounts               $(9,000)

Cost of goods purchased         $250,000

(b) For the cost of goods sold

Merchandise inventory, January 1, 2011     $45,000

Add: Cost of goods purchased             $250,000

Goods available for sale                     $2,95,000

Less: Merchandise inventory,

December 31, 2011 $                                  ($52,000)

Cost of goods sold                               $243,000

2. Now the preparation of the income statement is presented below:

<u>Marvin department store </u>

<u>Income statement </u>

<u>year ended December 31, 2017 </u>

<u>(In thousands) </u>

Revenues                                           $320,000

Less:

Cost of good sold (see above)         ($243,000)

Gross Margin                                       $77,000        

Less:

Operating costs:  

Marketing and advertising cost         ($24,000)

Shipping of merchandise to customers (2,000)

Building depreciation                              ($4,200)

General and administrative costs          ($32,000)

Total operating cost                              ($62,200)

Operating income                                 $14,800

6 0
3 years ago
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