Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 Prior to recording adjusting entries, the Omice Supplies account had a $365 debit balance. A physical count of the supplies showed 5108 of unused
1 Prior to recording adjusting entries, the Omice Supplies account had a $365 debit balance. A physical count of the supplies showed 5108 of unused suppoes viable. The required entry is Me Choice Debt Office Scopus Experte $257 and credit Orice Supplies 5252 Debit Cince Scies $257 and credit Omice Supplies Experte $26% DenOffice Suites $108 and Credit Supplies Expense 8252 Debit Ocepe 5108 and Crest Office Supplies Expense $100 Debt Once Supplies Expenses and credit Omce Supplies Ski 2 On December treetal Marketing Company received $5,700 from a customer for a month marketing plan to be completed January 31 of the Solowing yon. The cows recorded a newned fous. The adjusting entry for the year onded December at would include . Choice Eamed Fees for 1800 nedes 20 cedoned Fees for $4900 to Card Foes tors.100 In preparing a company's statement of cash flows using the Indirect method, the following information is available: 3 Net income Accounts payable decreased by Accounts receivable increased by Inventories increased by Cash dividends paid Depreciation expense $55,000 21,000 28,000 8,000 14,600 23,000 01:47,56 Net cash provided by operating activities was: Multiple Choice $129.000 $33,000 $47.000 O $72.400 4 A machine with a cost of $40,000 and accumulated depreciation of $95.000 is sold for $55.000 cash. The amount that should be reported as a source of cash under the flow from Investing activities Multiple Choice 510 000 o Zee This is onget 545.000 $55.000 O Hul 5 A company reported that its bonds with a value of $50.000 and a crying value of $53,500 retired for $67800 Chresulting in a loss of 54.200. The amount to be reported under cash flow from runcing at Choice 50 surano Use the following information to calculate cash received from dividends 6 Dividends revenue Dividends receivable, January 1 Dividends receivable, December 31 $34,800 3,600 5,400 8 01:47:06 Multiple Choice $38.400. $33,000 $36,600. $34,800. $29,400. 7 Storme Company reports the following amounts on its statement of cath flow. Netcat provided by operating activities was $31000: net cash used investing view 5200 net cash we in fringivities was $13,000. If the beginning cash balance is $5,000, was the ending cash GLASS Chuc O SO1000 350.000 SH000 0.000 SH.600
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started