Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 16, Problem 1EB
Provide
A. Paid $22,000 cash on bonds payable.
B. Collected $12,600 cash for a note receivable.
C. Declared a dividend to shareholders for $16,000, to be paid in the future.
D. Paid $26,500 to suppliers for purchases on account.
E. Purchased
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Journal entries?
A. Paid $22,000 cash on bonds payable.
B. Collected $12,600 cash for a note receivable.
C. Declared a dividend to shareholders for S16,000, to be paid in the future.
D. Paid S26,500 to suppliers for purchases on account.
Record all of these transactions in a cash disbursement journal table, such as this one:
Date
Explanation
A/R Sub Account #
Cash (debit)
Sales Revenue (credit)
Account Receivable (credit)
Other (credit)
Other Account Name
Dec 1: Purchased 12,000 shares of treasury stock for $120,000 (Check #500 payable to Tennett Corp). The company expects to reissue these shares at a later date.
Dec 1: Lent $50,000 in cash to one of its suppliers (Check #501 payable to Woodson Corp). The supplier signed a 1-year, 12% promissory note with a face value of $50,000. The note’s face value plus interest is due on 12/1/X6
Dec 4: Paid the Nelson Industries invoice for the balance owed.
Dec 5: Paid the November utilities bill of $5,500 (this was already recognized as an expense in November). (Check #503 payable to Progress Energy)
Dec 11: Paid Centennial, Inc. for the balance…
Use the following information to determine cash flows from financing activities. a. Issued common stock for $40 cash. b. Paid $70 cash to retire a note payable at its $70 maturity value. c. Paid cash dividend of $15. d. Paid $5 cash to acquire its treasury stock.
Chapter 16 Solutions
Principles of Accounting Volume 1
Ch. 16 - Which of the following statements is false? A....Ch. 16 - Which of these transactions would not be part of...Ch. 16 - Which is the proper order of the sections of the...Ch. 16 - Which of these transactions would be part of the...Ch. 16 - Which of these transactions would be part of the...Ch. 16 - Which of these transactions would be part of the...Ch. 16 - What is the effect on cash when current noncash...Ch. 16 - What is the effect on cash when current...Ch. 16 - What is the effect on cash when current noncash...Ch. 16 - What is the effect on cash when current...
Ch. 16 - Which of the following would trigger a subtraction...Ch. 16 - Which of the following represents a source of cash...Ch. 16 - Which of the following would be included in the...Ch. 16 - If beginning cash equaled $10,000 and ending cash...Ch. 16 - Which of the following is a stronger indicator of...Ch. 16 - What function does the statement of cash flows...Ch. 16 - Is it possible for a company to have significant...Ch. 16 - What categories of activities are reported on the...Ch. 16 - Describe three examples of operating activities,...Ch. 16 - Describe three examples of investing activities,...Ch. 16 - Describe three examples of financing activities,...Ch. 16 - Explain the difference between the two methods...Ch. 16 - Why is depreciation an addition in the operating...Ch. 16 - When preparing the operating section of the...Ch. 16 - If a company reports a gain/(loss) from the sale...Ch. 16 - Note payments reduce cash and are related to...Ch. 16 - Is there any significance that can be attributed...Ch. 16 - Would there ever be activities that relate to...Ch. 16 - What insight does the calculation of free cash...Ch. 16 - Why is using the direct method to prepare the...Ch. 16 - Provide journal entries to record each of the...Ch. 16 - In which section of the statement of cash flows...Ch. 16 - In which section of the statement of cash flows...Ch. 16 - Use the following information from Albuquerque...Ch. 16 - What adjustment(s) should be made to reconcile net...Ch. 16 - Use the following information from Birch Companys...Ch. 16 - Use the following information from Chocolate...Ch. 16 - Use the following information from Denmark...Ch. 16 - Use the following excerpts from Eagle Companys...Ch. 16 - Use the following excerpts from Fruitcake Companys...Ch. 16 - Use the following excerpts from Grenada Companys...Ch. 16 - Provide the missing piece of information for the...Ch. 16 - Provide the missing piece of information for the...Ch. 16 - Use the following excerpts from Kirsten Companys...Ch. 16 - Use the following excerpts from Franklin Companys...Ch. 16 - The following are excerpts from Hamburg Companys...Ch. 16 - Use the following excerpts from Algona Companys...Ch. 16 - Use the following excerpts from Huckleberry...Ch. 16 - Provide journal entries to record each of the...Ch. 16 - In which section of the statement of cash flows...Ch. 16 - In which section of the statement of cash flows...Ch. 16 - Use the following information from Hamlin Companys...Ch. 16 - What adjustment(s) should be made to reconcile net...Ch. 16 - Use the following excerpts from Indigo Companys...Ch. 16 - Use the following information from Jumper Companys...Ch. 16 - Use the following information from Kentucky...Ch. 16 - Use the following excerpts from Leopard Companys...Ch. 16 - Use the following information from Manuscript...Ch. 16 - Use the following excerpts from Nutmeg Companys...Ch. 16 - Provide the missing piece of information for the...Ch. 16 - Provide the missing piece of information for the...Ch. 16 - Use the following excerpts from Indira Companys...Ch. 16 - Use the following excerpts from Bolognese Companys...Ch. 16 - The following shows excerpts from Camole Companys...Ch. 16 - Use the following excerpts from Brownstone...Ch. 16 - Use the following excerpts from Jasper Companys...Ch. 16 - Provide journal entries to record each of the...Ch. 16 - Use the following information from Acorn Companys...Ch. 16 - Use the following information from Berlin Companys...Ch. 16 - Use the following information from Coconut...Ch. 16 - Use the following information from Dubuque...Ch. 16 - Use the following information from Eiffel Companys...Ch. 16 - Analysis of Forest Companys accounts revealed the...Ch. 16 - Use the following excerpts from Zowleski Companys...Ch. 16 - Use the following excerpts from Yardley Companys...Ch. 16 - Use the following excerpts from Wickham Companys...Ch. 16 - Use the following excerpts from Tungsten Companys...Ch. 16 - The following shows excerpts from financial...Ch. 16 - Use the following excerpts from Fromera Companys...Ch. 16 - Use the following excerpts from Victrolia Companys...Ch. 16 - Use the following cash transactions relating to...Ch. 16 - Provide journal entries to record each of the...Ch. 16 - Use the following information from Grenada...Ch. 16 - Use the following information from Honolulu...Ch. 16 - Use the following information from Isthmus...Ch. 16 - Use the following information from Juniper...Ch. 16 - Use the following excerpts from Kayak Companys...Ch. 16 - Analysis of Longmind Companys accounts revealed...Ch. 16 - Use the following excerpts from Stern Companys...Ch. 16 - Use the following excerpts from Unigen Companys...Ch. 16 - Use the following excerpts from Mountain Companys...Ch. 16 - Use the following excerpts from OpenAir Companys...Ch. 16 - The following shows excerpts from financial...Ch. 16 - Use the following excerpts from Swansea Companys...Ch. 16 - Use the following excerpts from Swahilia Companys...Ch. 16 - Use the following cash transactions relating to...Ch. 16 - Use a spreadsheet and the following financial...Ch. 16 - Consider the dilemma you might someday face if you...Ch. 16 - If you had $100,000 available for investing, which...
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