Primary purpose of the statement of cash flows

Assignment Help Accounting Basics
Reference no: EM13152293

The primary purpose of the statement of cash flows is to provide information about a companys: a. cash receipts and cash payments. Corporations should record dividends as a direct charge to retained earnings (or in a temporary account, Dividends, that is eventually closed out to retained earnings) at the: a. date of declaration b. date of record c. date of payment Which of the following does not reduce a companys retained earnings when it is declared?

Reference no: EM13152293

Questions Cloud

What is the probability that a random mutation : Only 1 out of 3 mutations that occur in a gene result in a change to the protein structure. What is the probability that a random mutation will change the structure of a protein?
Tax return and total income : Richard was required to pay Alice $1,500 per month of which $600 was designated as child support. He made 12 such payments in 2009. Assuming that Alice has no other income, her tax return for 2009 should show gross income of:
What determines how often a phenotype occurs in a population : What determines how often a phenotype occurs in a population?
What was the purpose of inoculating the base broths : what was the purpose of inoculating the base broths? would a positive result in any of them affect the rest of the exercise? why?
Primary purpose of the statement of cash flows : The primary purpose of the statement of cash flows is to provide information about a companys: a. cash receipts and cash payments. Corporations should record dividends as a direct charge to retained earnings
Would you expect to overlay this medium with mineral oil : phenylalanine medium sometimes is prepared in broth form with a pH indicator simiar to that used in decarboxylase medium so that increases in pH then can be detected by development of purple color. when testing an organism for the ability to deami..
Dispose of underapplied manufacturing overhead : Journal entry to dispose of underapplied manufacturing overhead: DR CR Part (iv) What affect would this entry have on net income for the period?
How much water must be added : How much water must be added to 516 mL of 0.181 M HCl to produce a 0.128 M solution? (Assume that the volumes are additive.)
Determining capital account balance : Crown contributed equipment with a $30,000 carrying amount, a $75,000 original cost, and $55,000 fair value. The partnership agreement specifies that profits and losses are to be shared equally but is silent regarding capital contributions. Which ..

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  How does the code relate to protecting the public

Many professional accountants believe that the main purpose of accounting standards is to protect the public. With that in mind, what do you think are the main objectives of the AICPA code of professional conduct and how does the code relate to pr..

  Show support for the bond payable discount by preparing

On June 1, 2002, a company purchased on the open market $20,000 of a company's non-convertible (or convertible) bonds (2% of $1,000,000 bonds outstanding) at a price of "60" ($12,000 cash) plus accrued interest.

  Computing amount of contribution margin

What is the amount of contribution margin that will be obtained per machine hour on each product? Which product would you recommend that the company work on next week - the orders for product F, product G, or product H? Show computations.

  Convertible debentures and detachable warrants

What value should be assigned to the common shares issued? How should Need Cash record the issuance of the convertible debentures and detachable warrants?

  Gains-losses on the purchase and resale of treasury stock

Gains and losses on the purchase and resale of treasury stock may be reflected only in:

  Unit contribution margin

Fancy has a unit contribution margin of $120 and takes three machine hours to make. There are 2,400 machine hours available to manufacture a product. What should Dye do

  Cash basis taxpayer of capital expenditures

Payments by a cash basis taxpayer of capital expenditures: a) must be expensed at the time of payment b) must be expensed by the end of the first year after the asset is acquired

  What was the earnings per share of common stock last year

Krew Kutter's net income was $100,000 last year. The company has 10,000 shares of common stock and 4,000 shares of $200 par value, 6 percent preferred stock outstanding.

  Losses for tax purposes

Karen was the president of Grebe Corporation and was paid an annual salary of $30,000 for the past three years. Karen has no other employment. Write a letter/memo to Karen in which you explain how she would treat her losses for tax purposes.

  Goals of financial management

Explain the goals of financial management. The description must include how earnings are valued, how shareholder wealth can be maximized, and how management decisions affect stockholder wealth.

  Scholarship from city university

Sarah receives a $8,000 per year scholarship from City University. The university specifies that $2,000 is for tuition, books, supplies, and equipment for classes. The other $6,000 is for room and board. As part of the condition of the scholarship..

  Environmental attorney for raymond

In May of 2009, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2009, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd