Financial Accounting
9th Edition
ISBN: 9781259222139
Author: Robert Libby, Patricia Libby, Frank Hodge Ch
Publisher: McGraw-Hill Education
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Chapter 2, Problem 2.20E
To determine
Indicate whether each of given item is an investing (I) or financing (F), also indicate effect on the
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Create pro-Forma Financial Statements for 39 Storage.
This Business.
https://www.39storage.com/
Inclue the following:
cash flow statements, income statements, balance sheets, detailed financial projections, and the capital equipment list
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Cash paid to purchase long-term investments would be reported in the statement of cash flows in
a. the cash flows from operating activities section.
b. the cash flows from financing activities section.
C. the cash flows from investing activities section.
d. a separate schedule.
4:09 PM
12/20/2019
IDENTIFICATION OF OPERATING, INVESTING, AND FINANCING ACTIVI-
TIES The following activities took place in the Tomberlin Company during the
most recent year. Indicate whether each activity is a cash inflow (+) or cash out-
flow (-), and whether it is an operating activity (O), investing activity (I), or
financing activity (F).
a. Payments to acquire productive assets
b. Proceeds from the issuance of stock
c. Interest received on loans made to outside entities
d. Proceeds from the sale of productive assets
e. Dividends received on investments made in the stock of other corporations
f. Payments to other suppliers and for other experises
8. Payments of dividends to stockholders
h. Payments to acquire investments in debt securities
i.
Payments for interest on loans
j.
Cash receipts from the sale of services
k. Repayment of the principal on loans
1. Payments for the acquisition of inventory
Chapter 2 Solutions
Financial Accounting
Ch. 2 - Prob. 1QCh. 2 - Define the following: a. Asset b. Current asset c....Ch. 2 - Explain what the following accounting terms mean:...Ch. 2 - Why are accounting assumptions necessary?Ch. 2 - For accounting purposes, what is an account?...Ch. 2 - What is the fundamental accounting model?Ch. 2 - Prob. 7QCh. 2 - Explain what debit and credit mean.Ch. 2 - Prob. 9QCh. 2 - Prob. 10Q
Ch. 2 - Prob. 11QCh. 2 - Prob. 12QCh. 2 - How is the current ratio computed and interpreted?Ch. 2 - Prob. 14QCh. 2 - Prob. 1MCQCh. 2 - Which of the following is not an asset? a....Ch. 2 - Total liabilities on a balance sheet at the end of...Ch. 2 - The dual effects concept can best be described as...Ch. 2 - The T-account is a tool commonly used for...Ch. 2 - Prob. 6MCQCh. 2 - The Cash T-account has a beginning balance of...Ch. 2 - Prob. 8MCQCh. 2 - At the end of a recent year, The Gap, Inc.,...Ch. 2 - Prob. 10MCQCh. 2 - Matching Definitions with Terms Match each...Ch. 2 - Matching Definitions with Terms Match each...Ch. 2 - Identifying Events as Accounting Transactions...Ch. 2 - Classifying Accounts on a Balance Sheet The...Ch. 2 - Determining Financial Statement Effects of Several...Ch. 2 - Prob. 2.6MECh. 2 - Prob. 2.7MECh. 2 - Prob. 2.8MECh. 2 - Prob. 2.9MECh. 2 - Prob. 2.10MECh. 2 - Prob. 2.11MECh. 2 - Computing and Interpreting the Current Ratio...Ch. 2 - Identifying Transactions as Investing or Financing...Ch. 2 - Matching Definitions with Terms Match each...Ch. 2 - Identifying Account Titles The following are...Ch. 2 - Classifying Accounts and Their Usual Balances As...Ch. 2 - Determining Financial Statement Effects of Several...Ch. 2 - Determining Financial Statement Effects of Several...Ch. 2 - Recording Investing and Financing Activities Refer...Ch. 2 - Prob. 2.7ECh. 2 - Recording Investing and Financing Activities...Ch. 2 - Analyzing the Effects of Transactions In...Ch. 2 - Analyzing the Effects of Transactions In...Ch. 2 - Prob. 2.11ECh. 2 - Inferring Investing and Financing Transactions and...Ch. 2 - Recording Journal Entries Nathanson Corporation...Ch. 2 - Prob. 2.14ECh. 2 - Analyzing the Effects of Transactions Using...Ch. 2 - Prob. 2.16ECh. 2 - Prob. 2.17ECh. 2 - Prob. 2.18ECh. 2 - Inferring Typical Investing and Financing...Ch. 2 - Prob. 2.20ECh. 2 - Identifying the Investing and Financing Activities...Ch. 2 - Prob. 2.22ECh. 2 - Identifying Accounts on a Classified Balance Sheet...Ch. 2 - Determining Financial Statement Effects of Various...Ch. 2 - Prob. 2.3PCh. 2 - Prob. 2.4PCh. 2 - Prob. 2.5PCh. 2 - Prob. 2.6PCh. 2 - Prob. 2.1APCh. 2 - Determining Financial Statement Effects of Various...Ch. 2 - Recording Transactions in T-Accounts, Preparing...Ch. 2 - Prob. 2.4APCh. 2 - Accounting for the Establishment of a New Business...Ch. 2 - Prob. 2.1CPCh. 2 - Prob. 2.2CPCh. 2 - Prob. 2.3CPCh. 2 - Prob. 2.4CPCh. 2 - Prob. 2.5CPCh. 2 - Prob. 2.6CPCh. 2 - Prob. 2.7CPCh. 2 - Prob. 2.8CP
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- Required information [The following information applies to the questions displayed below.] Consider the following balance sheet and income statement for Mmm Good Foods Incorporated (the company that operates Tasty Fried Chicken and Pizza Party), in condensed form, including some information from the cash flow statement: (amounts are millions) Balance Sheet Cash and short-term investments Accounts receivable Inventory Other current assets Long-lived assets Total assets Current liabilities Total liabilities Shareholders' equity Total liabilities and equity Income Statement Sales Cost of sales Gross margin Earnings before interest and taxes Interest Taxes Net income Share price Earnings per share Number of outstanding shares (millions) Cash Flows Cash flow from operations Capital expenditures Dividends Mmm Good Foods Incorporated 2019 2018 $743 623 $ 443 597 161 3,704 $ 5,231 $ 1,541 13, 247 (8,016) $ 5,231 $ 5,597 1,235 $ 4,362 $ 1,859 486 79 $ 1,294 $ 102 4.23 300 $ 1,315 196 511 167…arrow_forwardBase on your review of the Mc Donald’s Corporation financial statement, draw at least 4 conclusions in terms of usage of its cash flow, financing, firm’s investment, the primary use of the firms’ cash flow during the year.arrow_forwardWhen a firm sells its accounts receivable to raiseshort-term cash, it is engaging in a strategycalleda. factoring.b. financial planning.c. equity financingd. debt financing.e. draftingarrow_forward
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