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Please answer all 4. If you cant please leave it for someone who can. Cheggs policy is 4 question per post not 1. Thank you!!
Please answer all 4. If you cant please leave it for someone who can. Cheggs policy is 4 question per post not 1. Thank you!!
Which of the following is true of the statement of cash flows? It reports the corporation's financial position. It shows how the profits or losses of the company were generated. It shows the corporation's resources and claims to resources, It reports cash activities from operating, investing, and financing activities. June International Co. spent $400,000 to obtain the right to extract coal from a coal mine on January 1, 2019. June estimates that they can extract a total of 200,000 tons of coal over 10 years and extracted 30,000 tons in 2019. Using the units-of-production approach to record depletion, what should June record on December 31, 2019? Debit Depletion Expense. $60,000: credit Accumulated Depletion. $60,000. No journal entry is required. Debit Depletion Expense. $400,000; credit Accumulated Depletion, $400.000 O Debit Depletion Expense, $40,000 credit Accumulated Depletion, $40,000. Question 34 Using the indirect method to prepare the statement of cash flows, increases in Accounts Receivable is added back to the purchase of plant assets under investing activities is shown as a negative cash flow in the investing activities section is subtracted from Net Income in the operating activities section O is added back as an adjustment to Net income in the operating activities section Zebra Corp, sells $3,000 fax machines to a customer, who paid $1,000 cash and signed a $2,000 3-month note. The journal entry to record this transaction for Zebra Corp. is Debit Cash of $1,000 and Notes Receivable of $2,000; Credit Sales Revenue of $3,000. O Debit Cash of $1,000 and Accounts Receivable of $2,000 Credit Inventory of $3,000, Debit Sales Revenue of $3,000; Credit Cash of $1,000 and Notes Payable of $2,000 Debit Inventory of $3.000Credit Cash of $1,000 and Accounts Payable of $2,000 Step by Step Solution
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