For each of the items, indicate the type of business activity–operating, investing, or financing. Type of Activity 1. Purchase of goods for resale Operating 2. Issue of common shares 3. Sale of equipment that the company has finished using 4. Receipt of bank loan 5. Purchase of long-term investment

For each of the items, indicate the type of business activity–operating, investing, or financing. Type of Activity 1. Purchase of goods for resale Operating 2. Issue of common shares 3. Sale of equipment that the company has finished using 4. Receipt of bank loan 5. Purchase of long-term investment

Name: For each of the items, indicate the type of business activity–operati
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: For each of the items, indicate the type of business activity–operating, investing, or financing.Type of Activity1. Purchase of goods for resaleOperating2. Issue of common shares3. Sale of equipment that the company has finished using4. Receipt of b

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Which of these transactions would be part of the financing section? A. inventory purchased for cash B. sales of product, for cash C. cash paid for purchase of equipment D. dividend payments to shareholders, paid in cash
Transactions involving the purchase and sale of long-term assets, investing in equity securities, lending money, and collecting the principal on related loans are called a.investing activities. b.operating activities. c.buying and selling activities. d.financing activities.
Definitional problems: Listed are eight terms that relate to financial statements:1. Balance-sheet statement2. Income statement3. Cash-flow statement4. Operating activities5. Investment activities6. Financing activities7. Treasury account8. Capital accountChoose the term from the list that most appropriately completes each of the following statements:1. As an outside investor, you would view a firm's____________ as the most important financial report for gauging the quality of earnings.2. Retained earnings as reported in the________ represent income earnedby the firm in past years that has not been paid out as dividends.3. The_________ is designed to show how a firm's operations have affectedits cash position by providing actual net cash flows into or out of the firmduring some specified period.4. Typically, a firm's cash flow statement is categorized into three activities:________ ,________and ___________,5. When you issue stock, the money raised beyond the par value is shown in the…
1. Identifying assets, liabilities and capital. Here is a list of assets and liabilities and references to capital. Read through the list, and then identify which items are assets, liabilities, capital. • Vehicle • Shop fittings • Cash at bank • Bank loan • Owners investment in the business Inventory • Trade receivables • Bank overdraft • Trade payables Machinery • Cash in hand ● Equipment • Amounts owing to suppliers • Furniture ● Land • Loan from a friend • Value of owner's stake in the business • Amounts owed by customers • Cash at bank ● • Fittings
What is total assets on this company's balance sheet? What is total current liabilities on this company's balance sheet? What is the correct order for the current liabilities section of the balance sheet? a. Accounts payable, payments to suppliers, deferred revenue, income tax payable b. Bank loan payable, Income tax payable, Accounts payable, Deferred revenue c. Accounts payable, Income tax payable, Payments to suppliers d. Accounts payable, Deferred revenue, Income tax payable e. Accounts payable, Income tax payable Enter the letter that corresponds to your choice. (A B C D E) What is total liabilities on this company's balance sheet? What is total equity on this company's balance sheet? What is the correct order for the equity section of the balance sheet? a. Owners' Capital, Retained earnings b. Retained earnings, Owners' capital c. Retained earnings, Owners' capital, Profit d. Retained earnings, Profit, Owners' capital e.…
Classify each of the following as a(n): A.Operating Activity B.Investing Activity C.Financing Activity _1 Issuance of bonds. 2.Sale of equipment. 3.Amortization expense. 4.Purchase of treasury stock. 5.Receipt of dividends on investment. 6.Purchase of land.
Owner’s equity represents which of the following? a. the total of retained earnings plus paid-in capital b. the sum of the retained earnings and accounts receivable account balances c. the business owner’s/owners’ share of the company, also known as net worth or net assets d. the amount of funding the company has from issuing bonds
The following statement suits best the definition of ASSETS: a. The assets are expenses incurred by the business in each period O b. The assets are contributions made by the owners of the business O c. The assets are debts which are borrowed from banks to purchases non-current assets O d. The assets are resources owned or owing to the business from which future benefits are expected to flow to the business
APPLICATION investing. After which, indicate the reason for classification. Finally indicate the effect of the transactions to cash flows. Transactions Activity Reason Effect Affects profit Payment to supplier of goods Operating Decrease Cash and loss Payment to supplier of services Receipt from goods sold Receipt from service rendered Payment to employees Purchase of equipment Purchase of fixtures Purchase of patents Purchase of copyrights Purchase trademarks Payment of interest Proceeds from interests Payment to owners Receipts from owners Payment of income taxes Proceeds from long-term debt Payment of long-term Proceeds from sale of vehicle Proceeds from sale of patent Proceeds from sale of trademarks
Which financial statement would you look at to understand a company's revenues, cost of goods sold, and expenses? A. Statement of financial position B. Statement of retained earnings C. Balance sheet D. Income statement
In column A, identify the account to which element it belongs whether Current Asset (CA), Noncurrent Assets (NCA), Current Liabilities (CL), Noncurrent liabilities (NCL) or Shareholders’ equity (SHE). In column B, indicate the line item to which the account belongs. Column A Column B1. Share Capital2. Accounts Payable 3. Plant Expansion Fund4. Trading Securities 5. Employees income tax payable6. Goodwill 7. Raw Materials8. Share Premium 9. Advances from customers 10. Serial bonds not collectible currently 11. Investment in Bonds 12. Notes Payable 13. Prepaid Insurance 14. Income Tax Payable 15. Land
A primary focus of financial reporting about a company's performance during an accounting period is information related to the company's: a. Balance Sheet b. Income Statement c. Comprehensive Income d. Cash Flows