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Kiley Corporation had these transactions during 2022. Indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity.
Kiley Corporation had these transactions during 2022. Indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity. (a) Purchased a machine for $30,000, giving a long-term note in exchange. Financing Activities Investing Activities (b) Issued $50,000 par value common stock for cash. Noncash Investing and/or Financing Activities Operating Activities (c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. (d) Declared and paid a cash dividend of $13,000. (e) Sold a long-term investment with a cost of $15,000 for $15,000 cash. V ( f ) Collected $16,000 from sale of goods. (g) Paid $18,000 to suppliers. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit AnswerAn analysis of comparative balance sheets, the current year's income statement, and the general ledger accounts of Hailey Corp. uncovered the following items. Assume all items involve cash unless there is information to the contrary. Indicate how each item should be classified in the statement of cash flows (indirect method) using these four major classifications: operating activity (that is, the item would be listed among the adjustments to net income to determine net cash provided by operating activities under the indirect method), investing activity, financing activity, or significant noncash investing and financing activity. (a) Exchange of land for patent. Operating Activity Investing Activity (b) Sale of building at book value. Financing Activity Significant Noncash Investing and/or Financing Activity (c ) Payment of dividends. (d) Depreciation of plant assets V (e) Conversion of bonds into common stock V (f) Issuance of capital stock. V (g) Amortization of patent. V (h) Issuance of bonds for land. V (i) Purchase of land. V (j) Loss on disposal of plant assets. V (k) Retirement of bonds. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit AnswerCrane, Inc. reported net income of $2.9 million in 2022. Depreciation for the year was $161,900, accounts receivable decreased $354,400, and accounts payable decreased $276,200. Compute net cash provided by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Crane, Inc. Statement of Cash Flows-Indirect Method Adjustments to reconcile net income to V V $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit
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