Riley Company paid $60,000 cash to purchase land from Smally Company in 2018. Smally originally paid $60,000
Question:
Riley Company paid $60,000 cash to purchase land from Smally Company in 2018. Smally originally paid $60,000 for the land.
Required
a. Was this event an asset source, use, or exchange transaction for Riley Company?
b. Was this event an asset source, use, or exchange transaction for Smally Company?
c. Was the cash flow an operating, investing, or financing activity on Riley Company's 2018 statement of cash flows?
d. Was the cash flow an operating, investing, or financing activity on Smally Company's 2018 statement of cash flows?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a Riley Company Asset Excha...View the full answer
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
29+ Reviews
43+ Question Solved
Related Book For 
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
Question Posted:
