Question 5 4 pts

On September 12, our company purchased 2,000 shares of the companys $1 par value common stock as treasury stock, paying $9 cash. What account(s) and amount(s) would we credit when we record the journal entry for this transaction?

cash, $2,000

treasury stock, $2,000

treasury stock, $18,000

cash, $18,000

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Question 6 4 pts

On June 1 (date of declaration), the companys board of directors announces the intention to pay a $0.50 per share dividend on the 1,000,000 outstanding shares of common stock to the stockholders of record on June 15. The payment date for the cash dividend is June 30. What account and amount would we debit when we record the journal entry on the date of declaration?

dividends, $500,000

dividends payable, $500,000

cash, $500,000

no entry required

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Question 7 4 pts

On the statement of cash flows, the sale of long-term investments for cash is an example of:

cash inflow in the cash flows from financing activities section

cash outflow in the cash flows from financing activities section

cash inflow in the cash flows from investing activities section

cash outflow in the cash flows from investing activities section

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Question 8 4 pts

On the statement of cash flows, a loss on the sale of plant assets is shown as:

a deduction from net income in the cash flows from operating activities section

an addition to net income in the cash flows from operating activities section

a cash inflow in the cash flows from financing activities section

a cash outflow in the cash flows from financing activities section

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Question 9 4 pts

During the year, we made a payment of long-term notes payable of $45,000 and borrowed $20,000 on a long-term note payable. Which of the following is correct for our statement of cash flows?

Net cash used for financing activities is ($25,000).

Net cash provided by investing activities is $25,000.

Net cash provided by financing activities is $25,000.

Net cash used for financing activities is ($45,000).

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Question 10 4 pts

On the statement of cash flows, a decrease in accounts payable is shown as:

a deduction from net income in the cash flows from operating activities section

an addition to net income in the cash flows from operating activities section

a cash inflow in the cash flows from financing activities section

a cash outflow in the cash flows from financing activities section

Please answer those question for me its for the midterm exam i got 30 mins left help me thannk you