4. A company acquires a $3m plot of land in order to build a warehouse. They pay cash for the land. How would this be handled on the statement of cash flows.
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- Assume that a company purchases land for $1,000,000, paying $400,000 cash and borrowing the remainder with a long-term note payable. How should this transaction be reported on a statement of cash flows?Assume the company purchases land for $1,000,000, paying $ 400,000 cash and borrowing the remainder with long-term notes payable. How should this transaction be reported on a statement of cash flows?Suppose your company sells services of $260 in exchange for $175 cash and $85 on account. Depreciation of $105 relating to equipment also is recorded. How would i do the following questions? Calculate the amount that should be reported as net cash flow from operating activities. Calculate the amount that should be reported as net income. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2).
- 22.- Land costing $44,139 was sold for $74,050 cash. The gain on the sale was reported on the income statement as other income. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?Suppose your company sells services of $310 in exchange for $200 cash and $110 on account. Depreciation of $130 relating to equipment also is recorded. Calculate the amount that should be reported as net cash flow from operating activities. Calculate the amount that should be reported as net income. Show how the indirect method would convert net income (requirement 3) to net cash flow from operating activities (requirement 2).26.Land costing $96,832 was sold for $69,017 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
- Suppose your company sells services of $180 in exchange for $110 cash and $70 on account.Required:1. Show the journal entry to record this transaction.2. Identify the amount that should be reported as net cash flow from operating activities.3. Identify the amount that would be included in net income.4. Show how the indirect method would convert net income (requirement 3) to net cash flowfrom operating activities (requirement 2).5. What general rule about converting net income to operating cash flows is revealed by youranswer to requirement 4?Strawbale, Incorporated purchases a $329,800 building, paying $228,000 in cash and signing a $101,800 promissory note. What will be reported on the statement of cash flows as a result of this transaction? Multiple Choice A $228,000 cash outflow from investing activities and a $101,800 noncash transaction A $329,800 cash outflow from investing activities A $228,000 cash outflow from investing activities and a $101,800 cash inflow from financing activities A $329,800 cash outflow from investing activities and a $101,800 cash inflow from financing activities?Which section of the statement of cash flows is used to report the purchase of a building by issuing a 9-month note payable .Financing activities .A O Investing activities .BO Schedule of noncash investing or financing activity.CO .Operating activities.D O
- Which of the following should be shown on a statement of cash flows under the financing activities section? a. the purchase of a long-term investment in the common stock of another company b. the payment of cash to retire a long-term note c. the proceeds from the sale of a building d. the issuance of a long-term note to acquire landA company purchases equipment for $32,000 cash. This transaction should be shown on the statement of cash flows under a. investing activities b. noncash investing and financing activities c. operating activities d. financing activitiesIndicate the effect each separate transaction has on investing cash flows. Note: Amounts to be deducted should be indicated with a minus sign.. a. Sold a truck costing $40,000, with $22,000 of accumulated depreciation, for $8,000 cash. The sale results in a $10,000 loss. b. Sold a machine costing $10,000, with $8,000 of accumulated depreciation, for $5,000 cash. The sale results in a $3,000 gain. c. Purchased stock investments for $16,000 cash. The purchaser believes the stock is worth at least $30,000. Answer is not complete. Cash flows from investing activities Cash received from sale of truck Cash received from sale of machine Cash paid for purchase of investment S 8,000 5,000 (16,000) › › › $ (3,000)
