Question
Given the amounts below, calculate the Total Cash from (for) Investing Activities on the Statement of Cash Flows. Cash Collected from Customers $200,000 Issuance of
Given the amounts below, calculate the Total Cash from (for) Investing Activities on the Statement of Cash Flows.
| Cash Collected from Customers | $200,000 |
| Issuance of Stock | $120,000 |
| Purchase of Equipment | $25,000 |
| Proceeds from Sale of Land | $80,000 |
= ________
Why is Accumulated Depreciation on the balance sheet more than Depreciation Expense on the income statement in the subsequent years of an asset's useful life?
| The company must have neglected to close its temporary accounts in the prior accounting periods. | ||
| Accumulated Depreciation is the dollar amount of life the asset has left. | ||
| The company must have adjusted the useful life of the asset. | ||
| Accumulated Depreciation accumulates and reports all of the asset's usefulness used since the asset was purchased. |
Which statement about depreciation is true?
| Depreciation means loss in economic value. | ||
| Depreciation means to capitalize a cost over several accounting periods. | ||
| Depreciation refers to an allocation of an assets cost to an expense account. | ||
| Depreciation means to increase net income by transferring balances from shareholders equity. | ||
| None of these is true. |
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Investing In People Financial Impact Of Human Resource Initiatives
Authors: John W. Boudreau, Wayne F. Cascio, Alexis A. Fink
3rd Edition
1586446096, 978-1586446093
