EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
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Chapter 17, Problem 1E
To determine
Introduction: The
To classify: The given transactions by the type of cash flow activity.
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XYZ Co. had the following activities in 2020 :Issuance of common stock 350000 Payment of dividends 164000 Issuance of bonds payable 50000 Sale of long Term Assets 24000 Bank loan repaid 125000 Purchase of equipment 53000 Purchase of available-for-sale securities 43000 Purchase of treasury stock 15000 Prepare the cash flows from Financing
a.
96000 OMR
b.
None of the options
c.
96000 OMR
d.
10000OMR
XYZ Co. had the following activities in 2020 :Issuance of common stock 250000 Payment of dividends 125000 Issuance of bonds payable 80000 Sale of long Term Assets 24000 Bank loan repaid 100000 Purchase of equipment 53000 Purchase of available-for-sale securities 43000 Purchase of treasury stock 15000 Prepare the cash flows from Financing
a.
100000OMR
b.
90000 OMR
c.
84000 OMR
d.
None of the options
Kiley Corporation had these transactions during 2022.Analyze the transactions and indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity.
(a)
Purchased a machine for $30,000, giving a long-term note in exchange.
select an option
(b)
Issued $50,000 par value common stock for cash.
select an option
(c)
Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
select an option
(d)
Declared and paid a cash dividend of $13,000.
select an option
(e)
Sold a long-term investment with a cost of $15,000 for $15,000 cash.
select an option…
Chapter 17 Solutions
EBK ACCOUNTING PRINCIPLES
Ch. 17 - Prob. 1QCh. 17 - Prob. 2QCh. 17 - Prob. 3QCh. 17 - Prob. 4QCh. 17 - Prob. 5QCh. 17 - Prob. 6QCh. 17 - 7. Why is it necessary to use comparative balance...Ch. 17 - 8. Contrast the advantages and disadvantages of...Ch. 17 - Prob. 9QCh. 17 - Prob. 10Q
Ch. 17 - Prob. 11QCh. 17 - Prob. 12QCh. 17 - Prob. 13QCh. 17 - Prob. 14QCh. 17 - Prob. 15QCh. 17 - Prob. 16QCh. 17 - Prob. 17QCh. 17 - Prob. 18QCh. 17 - Prob. 19QCh. 17 - Prob. 20QCh. 17 - Prob. 21QCh. 17 - Prob. 22QCh. 17 - Prob. 1BECh. 17 - Prob. 2BECh. 17 - Prob. 3BECh. 17 - Prob. 4BECh. 17 - Prob. 5BECh. 17 - Prob. 6BECh. 17 - Prob. 7BECh. 17 - Prob. 8BECh. 17 - BE17-9 Hinck Corporation reported net cash...Ch. 17 - BE17-10 Suppose in a recent quarter, Alliance...Ch. 17 - BE17-11 The management of Morrow Inc. is trying to...Ch. 17 - BE17-12 Suppose Columbia Sportswear Company had...Ch. 17 - Prob. 13BECh. 17 - Prob. 14BECh. 17 - Prob. 1DIECh. 17 - Prob. 2aDIECh. 17 - Prob. 2bDIECh. 17 - Prob. 3DIECh. 17 - Prob. 1ECh. 17 - E17-2 An analysis of comparative balance sheets,...Ch. 17 - Prob. 3ECh. 17 - Prob. 4ECh. 17 - Prob. 5ECh. 17 - Prob. 6ECh. 17 - Prob. 7ECh. 17 - Prob. 8ECh. 17 - Prob. 9ECh. 17 - Prob. 10ECh. 17 - Prob. 11ECh. 17 - E17-11 Suppose a recent income statement for...Ch. 17 - Prob. 13ECh. 17 - Prob. 14ECh. 17 - Prob. 1PSACh. 17 - Prob. 2PSACh. 17 - Prob. 3PSACh. 17 - Prob. 4PSACh. 17 - Prob. 5PSACh. 17 - Prob. 6PSACh. 17 - Prob. 7PSACh. 17 - P17-8A Data for Nosker Company are presented in...Ch. 17 - Prob. 9PSACh. 17 - Prob. 10PSACh. 17 - Prob. 11PSACh. 17 - Prob. 17CCCh. 17 - Prob. 2EYCTCh. 17 - Prob. 3EYCTCh. 17 - Prob. 4EYCTCh. 17 - Prob. 5EYCTCh. 17 - Prob. 7EYCTCh. 17 - Prob. 1ISTQCh. 17 - Prob. 2ISTQCh. 17 - Prob. 3ISTQCh. 17 - Prob. 4ISTQCh. 17 - Prob. 5ISTQCh. 17 - Prob. 1IFRECh. 17 - Prob. 2IFRECh. 17 - Prob. 3IFRP
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- Kiley Corporation had these transactions during 2025. Analyze the transactions and indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity. a. b. C d. e. f. bb Purchased a machine for $30,000, giving a long-term note in exchange. Issued $50,000 par value common stock for cash. Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. Declared and paid a cash dividend of $13,000. Sold a long-term investment with a cost of $15,000 for $15,000 cash. Collected $16,000 from sale of goods. Paid $18,000 to suppliers. > <arrow_forwardABC Co. had the following activities in 2020:Issuance of common stock 58000 Sales of Furniture 50000 OMR Payment of dividends 64000 Issuance of bonds payable 25000 Sale of long Term Assets 250000 Bank loan repaid 23000 Purchase of equipment 153000 Purchase of available-for-sale securities 80000 Purchase of treasury stock 10000 Prepare the cash flows from investing a. 70000 OMR b. 75000 OMR c. None of the options d. 67000 OMRarrow_forwardThe following information is also available: 1. Current assets include cash P3,800, accounts receivables P18,500, note receivables (maturity date is on July 1,2023) P10,000 and land P12,000. 2. Long term investments include a P4,600 investment in fair value though other comprehensive income securitiesthat is expected to be sold in 2022 and a P9,000 investment in AllDay company bonds that are expected to be helduntil their December 31, 2029 maturity date. 3. Property and equipment include buildings costing P63,400, inventories costing P30,500 and equipment costingP29,600. 4. Intangible assets include patents that cost P8,200 and on which P2,300 amortization have accumulated, andtreasury shares that costs P1,800. 5. Other assets include prepaid insurance (which expires on November 30, 2022) P2,900, sinking fund for bondretirement P7,000 and trademarks that cost P5,200 and on which P1,500 amortization has accumulated. 6. Current liabilities include accounts payable P19,400, bonds payable…arrow_forward
- The following information is also available: 1. Current assets include cash P3,800, accounts receivables P18,500, note receivables (maturity date is on July 1,2023) P10,000 and land P12,000. 2. Long term investments include a P4,600 investment in fair value though other comprehensive income securitiesthat is expected to be sold in 2022 and a P9,000 investment in AllDay company bonds that are expected to be helduntil their December 31, 2029 maturity date. 3. Property and equipment include buildings costing P63,400, inventories costing P30,500 and equipment costingP29,600. 4. Intangible assets include patents that cost P8,200 and on which P2,300 amortization have accumulated, andtreasury shares that costs P1,800. 5. Other assets include prepaid insurance (which expires on November 30, 2022) P2,900, sinking fund for bondretirement P7,000 and trademarks that cost P5,200 and on which P1,500 amortization has accumulated. 6. Current liabilities include accounts payable P19,400, bonds payable…arrow_forwardThe following information is also available: 1. Current assets include cash P3,800, accounts receivables P18,500, note receivables (maturity date is on July 1, 2023) P10,000 and land P12,000. 2. Long term investments include a P4,600 investment in fair value though other comprehensive income securities that is expected to be sold in 2022 and a P9,000 investment in AllDay company bonds that are expected to be held until their December 31, 2029 maturity date. 3. Property and equipment include buildings costing P63,400, inventories costing P30,500 and equipment costing P29,600. 4. Intangible assets include patents that cost P8,200 and on which P2,300 amortization have accumulated, and treasury shares that costs P1,800. 5. Other assets include prepaid insurance (which expires on November 30, 2022) P2,900, sinking fund for bond retirement P7,000 and trademarks that cost P5,200 and on which P1,500 amortization has accumulated. 6. Current liabilities include accounts payable P19,400, bonds…arrow_forwardABC Co. had the following activities in 2020:Issuance of common stock 58000 Payment of dividends 64000 Issuance of bonds payable 25000 Sale of long Term Assets 105000 Bank loan repaid 23000 Purchase of equipment 53000 Purchase of available-for-sale securities 43000 Purchase of treasury stock 15000 Prepare the cash flows from investing a. 9000 OMR b. 8700OMR c. 7200 OMR d. None of the optionsarrow_forward
- 2. During 2020, Earl Company purchased debt securities as a long-term investment and classified them as trading. All securities were purchased at par value. The following information is presented: Market value at Security 12/20/2020 cost $ 30,000 $ 28,000 40,000 83,000 $151,000 B. 50,000 100,000 Totals $180,000 The net holding gain or loss included in Earl's income statement for the year should be?arrow_forwardShow the solution in good accounting form. On January 1, 2020, HIBISCUS Company purchased 4,000 of P1,000 face value, 10% bonds of IXORA Company for 24,270,600. The bonds will mature on January 1, 2025 and pay interest semi-annually on January 1 and July 1. Bonds effective interest rate is 8%. HIBISCUS has a business model of collecting all the contractural cash flows related to the instrument. How much should HIBISCUS report as interest income on the bonds in the year 2020?arrow_forward1. In January 2028. Interesado Bank reported a net income of P500,000, net of debt securities trading loss of P100,000. In February 2028, the bank reported the following gross receipts: Interest income with maturity more than 5 year 400,000Leasehold income 300,000How much is the gross receipts tax on the collections of Interesado for February 2028? 2. Macmod sold 2,000 shares of his investment in stock eCare. The sale is made through the Philippine Stock Exchange (PSE) tor P1,000,000. How much is the percentage tax if Macmod acquired the shares of stock for P800,000 3. Macmod sold 2,000 shares of his investment in stock eCare. The sale is made through the Philippine Stock Exchange (PSE) tor P1,000,000. How much is the percentage tax if Macmod acquired the shares of stock for P800,000arrow_forward
- Bramble's Vegetable Market had the following transactions during 2020: 1. Issued $50000 of par value common stock for cash. 2. Repaid a 6 year note payable in the amount of $23200. 3. Acquired land by issuing common stock of par value $103000. 4. Declared and paid a cash dividend of $2300. 5. Sold a long-term investment (cost $2800) for cash of $8000. 6. Acquired an investment in IBM stock for cash of $15500. What is the net cash provided used by investing activities? ($7500) $8000 $15500 $31900arrow_forwardAbacus Co., provided these data for 2020: Income from continuing operations 4,000,000 800,000 Unrealized gain on financial asset at FVPL Unrealized gain on equity investment at FVOCI 1,000,000 1,200,000 Unrealized loss on debt investment at FVOCI Loss on credit risk a financial liability at FVPL Unrealized gain on futures contract designated as cash flow hedge Net remeasurement gain on a defined benefit plan Translation loss on foreign operation Income from discontinued operations Revaluation surplus 300,000 400,000 600,000 200,000 500,000 2,500,000 How much should be reported as other comprehensive income for 2020?arrow_forwardInterest expense for Rhodes Manufacturing was $500,000 in 2018. During 2018, $3.7 million in old debt was repaid and $1.6 million was raised through new borrowing. Dividends of $460,000 were paid and $1.7 million was raised through new share sales. a. Calculate the cash flow to bondholders. Treat interest as a financing flow. (Enter answers in dollar, not in millions of dollar. Use minus sign to enter cash or financing outflows, if any.)arrow_forward
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