How are the effects of these transactions reported

Assignment Help Financial Accounting
Reference no: EM13516679

1. Gamma Corporation purchased land for $200,000. Later in the year, the company sold land with a book value of $105,000 for $90,000. How are the effects of these transactions reported on the statement of cash flows?

2. Sunrise Corporation purchased land for $500,000. Later in the year, the company sold land with a book value of $320,000 for $375,000. How are the effects of these transactions reported on the statement of cash flows?

3. Sales reported on the income statement were $623,000. The accounts receivable balance increased $48,000 over the year. Determine the amount of cash received from customers.

Reference no: EM13516679

Questions Cloud

Determine the minimum spring constant : you are standing on a bridge that is 50.0 m above a dried up riverbed. what is the minimum spring constant that the bungee cord must have for you not to hit the riverbed
Changes in operating assets and liabilities : Adjust net income of $290,000 for changes in operating assets and liabilities to arrive at cash flows from operating activities.
Find the center of mass of a uniform density cone : find the center of mass of a uniform density cone. give your answer as a distance from the cone point, and as a fraction of the total cone height
Derive an expression for spring potential energy : Derive an expression for spring potential energy (Us), where the spring force is Fs = -kx and delta U = -Wc, where Wc is the work done by conservative forces
How are the effects of these transactions reported : How are the effects of these transactions reported on the statement of cash flows and how are the effects of these transactions reported on the statement of cash flows?
Calculate the total distance traveled by the car : A car starts from rest and moves with an acceleration of 1m/s for 1s. the motor is then turned off and the car is allowed to decelerate, Calculate the total distance traveled by the car
Explain what volume of a 0.0240 m solution of na3po4 : Ag3PO4(s)+3NaCH3Coo(aq). What volume of a 0.0240 M solution of Na3PO4 is required to react completely w/82.1 ml of a 0.0887 M solution of AgCH3COO
Find the work done by gravity as painter climbs the ladder : An 80kg painter climbs a 2.45m ladder that is at an angle of 25 degrees with a vertical wall. what is the work done by gravity as the painter climbs the ladder
Determine the amount of cash paid for merchandise : Determine the amount of cash received from customers and determine the amount of cash paid for merchandise

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the project''s net present value

Determine the project's net present value (NPV)? What does it imply? Find the IRR of the project? What does it mean?

  Explain briefly to the class factoring receivables

Find a website that details factoring receivables. E xplain b riefly to the class what factoring receivables is, why a company would factor their receivables, and the advantages of doing so?

  Illustrate what impact does the entry to record

The company's fiscal year ends on February 28. Debbie's sold 500 shares of common stock at $6 per share on April 1. Illustrate what impact does the entry to record the April 1 transaction have on total stockholders' equity?

  Evaluate depreciation expense for the years 2011

Evaluate depreciation expense for the years 2011 during 2013 under every depreciation listed below: Stright-line, with fractional years rounded to the closed whole month.

  How could a continued depreciation of thai baht affect

How could a continued depreciation of the Thai baht affect Blades? How would it affect Blades relative to US exporters invoicing their roller blades in US Dollars?

  Calculation of the equivalent units for conversion costs in

calculation of the equivalent units for conversion costs in process costing.1.nbsp roy company manufactures a product

  What is internal rate of return

The project would generate before tax annual cash inflows of $28,500. The tax rate is 35% and the company’s discount rate is 14%. What is internal rate of return?

  Prepare the cost of merchandise sold section

Prepare the cost of merchandise sold section of the income statement for the year ended June 30, 2008, using the periodic inventory system.

  The ledger of mesa corporation at december 31st of current

the ledger of mesa corporation at december 31st of current year containsnet sales - 1500000cost of goods sold -

  Larkspur corp manufactures bird feeders it currently has

larkspur corp. manufactures bird feeders. it currently has two product lines the standard and the deluxe. larkspur has

  What interest rate was used

Zebra Finance has offered to purchase the payment stream for $2,718,000. What interest rate (to the nearest percent) was used to determine the amount of the payment?

  Discuss how this change impacts the company

For each ratio, you should define the ratio, inform the directors about the change in the ratio from one year to the next, and discuss how this change impacts the company.

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