A company purchases land for $100,000, paying $20,000 cash and borrowing the remainder on a long-term note

Question:

A company purchases land for $100,000, paying $20,000 cash and borrowing the remainder on a long-term note payable. How should this transaction be reported on a statement of cash flows?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Fundamental Accounting Principles Volume II

ISBN: 978-1259066511

14th Canadian Edition

Authors: Larson Kermit, Jensen Tilly

See More Books

Question Posted: Jan 08, 2015 09:03 AM

See More Questions

A company purchases land and buildings for a lump sum. What does this mean? What is the acceptable manner of accounting for a lump sum purchase?
Astridis, Inc. reported the following statement of cash flows in its 2013 annual report. Amounts are shown in thousands of dollars. Required Analyze Astridiss statement of cash flows by making at...
Astridis, Inc. reported the following statement of cash flows in its 2016 annual report. Amounts are shown in thousands of dollars. Required Analyze Astridis's statement of cash flows by making at...
Using raw javascript and HTML create a webpage that has a digital clock and an analog clock. be sure to add a feature to switch between the clocks. the clock should show real time (eastern time)
Suppose f is differentiable on an interval I and f'(x) > 0 for all numbers in except for a single number c. Prove that f is increasing on the entire interval I.
The charter for an internal auditing department should indicate responsibility for: a. Reconciling bank accounts. b. Developing standards of control in new EDP systems. c. Developing job descriptions...
P 16-13 Recording new partner investmentComplex non-revaluation and revaluation cases A condensed balance sheet for the Pet, Qua, and She partnership at December 31, 2016, and their profitand...
Using the following information, prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the town of Robinson Water and Sewer Enterprise Fund for the year ended June 30,...
Draw up a cash budget for Amben Ltd showing the balance at the end of each month from the following information for the six months ended 31 December 2022 a. Opening cash balance (including bank)...
Deoro Company has identified the following overhead activities, costs, and activity drivers for the coming year: Deoro produces two models of dishwashers with the following expected prime costs and...
Is depreciation an inflow of cash?
Refer to Danier Leathers balance sheet shown in Appendix II. First, calculate the change in Cash from June 26, 2010, to June 25, 2011. Next, refer to Daniers statement of cash flows and identify the...
ABB purchased fieldbus communication equipment for a project in South Africa for $3.15 million. The net cash flow is estimated at $500,000 per year, and a salvage value of $400,000 is anticipated...
1. [-/1 Points] DETAILS Find the associated exponential decay or growth model. (Round all coefficients to three significant digits.) Q=3,000 when t = 0; doubling time = 4 Q = Need Help? Read It Watch...
The 10 m wide gate restrains water at a depth of 6 m. Calculate the magnitude of the hinge reaction at A, and the contact force between the gate and the smooth surface B. Neglect the weight of the...
Write a program loop, using a pointer and a counter, that dears i'o 0 the contents of hexadecimal locations 500 through 5FF. Write a program to multiply two positive numbers by a repeated addition...
entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are...
APA formatting : Take the information below and put it into correct APA format. Journal Article (5 points) Authors: William R. Johnson, Cynthia E. Hernandez, Jamal M. Wilson. Year published: 2019....
EX 5.15 Write a method called isAlpha that accepts a character parameter and returns true if that character is either an uppercase or lowercase alphabetic letter.
The comparative statements of financial position of Menachem NV at the beginning and end of the year 2019 appear below. Net income of ¬34,000 was reported, and dividends of ¬23,000 were paid...
In April 2004, Ann Aldrich wrote her will on an E-Z Legal Form. In Article III, entitled Bequests, Aldrich handwrote instructions stating that all of her listed possessions were to go to her sister...
Pleasant Co. manufactures specialty bike accessories. The company is known for product quality, and it has offered one of the best warranties in the industry on its higher-priced productsa lifetime...
In this simulation, you are asked to address questions related to the accounting for current liabilities. Prepare responses to allparts. KWW Professional_Simulation Time Remaining O hour 20 minutes...
What evidence is necessary to demonstrate the ability to defer settlement of short-term debt?
Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below Flight Cafe Planning Budget For the Month Ended...
The May transactions of Riverbed Corp were as follows. May 4 7 8 9 Paid $770 due for supplies previously purchased on account. Performed advisory services on account for $7,330. Purchased supplies...
Figure: 7.4 Locate the Treasury issue in Figure 7.4 maturing in August 2025. Assume a par value of $10,000 a. What is its coupon rate? (Enter your answer as a percent rounded to 3 decimal places,...

A company purchases land for $100,000, paying $20,000 cash and borrowing the remainder on a long-term note

Question:

Step by Step Answer:

The amount of the land purchase that was paid for in cash 20000 should b...View the full answer

Fundamental Accounting Principles Volume II

Students also viewed these Accounting questions