Howard Company had a transaction that caused a $5,000 increase in both assets and liabilities. This transaction could have been a(n) O purchase of office equipment for $12,000, paying $7,000 cash and issuing a note payable for the balance O investment of $5,000 cash in the business by the stockholders. O purchase of office equipment for $5,000 cash O repayment of a $5,000 bank loan Question 9 Debits O increase both assets and liabilities. O decrease both assets and liabilities O increase assets and decrease liabilities O decrease assets and increase liabilities

Howard Company had a transaction that caused a $5,000 increase in both assets and liabilities. This transaction could have been a(n) O purchase of office equipment for $12,000, paying $7,000 cash and issuing a note payable for the balance O investment of $5,000 cash in the business by the stockholders. O purchase of office equipment for $5,000 cash O repayment of a $5,000 bank loan Question 9 Debits O increase both assets and liabilities. O decrease both assets and liabilities O increase assets and decrease liabilities O decrease assets and increase liabilities

Name: DQuestion 8Howard Company had a transaction that caused a $5,000 incr
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Description: DQuestion 8Howard Company had a transaction that caused a $5,000 increase in both assets and liabilities. Thistransaction could have been a(n)O purchase of office equipment for $12,000, paying $7,000 cash and issuing a note payable for the balanceO

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $220,000 of bonds, on which there was $2,200 of unamortized discount, for $229,000. b. Sold 7,000 shares of $15 par common stock for $30 per share. c. Sold equipment with a book value of $51,800 for $74,600. d. Purchased land for $362,000 cash. e. Purchased a building by paying $75,000 cash and issuing a $120,000 mortgage note payable. f. Sold a new issue of $150,000 of bonds at 98. g. Purchased 4,400 shares of $15 par common stock as treasury stock at $28 per share. h. Paid dividends of $1.60 per share. There were 34,000 shares issued and 5,000 shares of treasury stock. Effect Amount a. b. C. d. e. f. g. h.
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The following summary transactions occurred during the year for Bluebonnet. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $380,000 6,000 Cash flows from investing activities: -50,000 30,000 100,000 Net cash flows from investing activities 160,000 5,000 85,000 90,000 Required: Calculate net cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) 25,000 20,000 BLUEBONNET COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 $ 0
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