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Can someone help me answer questions 2-5? 2.The acquisition of land by issuing common stock is a. a noncash transaction which is reported in a
Can someone help me answer questions 2-5?
2.The acquisition of land by issuing common stock is a. a noncash transaction which is reported in a separate note. b. a cash transaction and would be reported in the body of a statement of cash flows. c. a noncash transaction and would not be disclosed. d. only reported if the statement of cash flows is prepared using the direct method. 3. Wilton Company reported net income of $50,000 for the year. During the year, accounts receivable decreased by $7,000, accounts payable increased by $3,000, gain on sale of land of S2,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is a. $67,000. b. $63,000. c. $47,000. d. $43,000. Use the following information to answer question 4 and 5. The following data are available for Orange Peels Corporation. Sale of land $100,000 Sale of equipment 50,000 | Issuance of common stock I 70,000 Purchase of equipment 30,000 | Payment of cash dividends 60,000 4. Net cash provided by investing activities is: a. $120,000 b. $130,000 c. $150,000 d. $190,000 5. Net cash provided by financing activities is: a. $70,000 b. $60,000 c. $130,000 d. $10,000Step by Step Solution
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