Questions from Financial Accounting

Q: Name five common major classes of operating cash receipts or operating cash

Name five common major classes of operating cash receipts or operating cash payments presented on the statement of cash flows when the cash flows from operating activities are reported by the direct m...

Q: What are the major advantages of the indirect method of reporting cash

What are the major advantages of the indirect method of reporting cash flows from operating activities?

Q: A corporation issued $2,000,000 of common stock

A corporation issued $2,000,000 of common stock in exchange for $2,000,000 of fixed assets. Where would this transaction be reported on the statement of cash flows?

Q: A retail business, using the accrual method of accounting, owed

A retail business, using the accrual method of accounting, owed merchandise creditors (accounts payable) $320,000 at the beginning of the year and $350,000 at the end of the year. How would the $30,00...

Q: Identify the type of cash flow activity for each of the following

Identify the type of cash flow activity for each of the following events (operating, investing, or financing): a. Redeemed bonds b. Issued preferred stock c. Paid cash dividends d. Net income e. Sold...

Q: Indicate whether each of the following would be added to or deducted

Indicate whether each of the following would be added to or deducted from net income in determining net cash flow from operating activities by the indirect method: a. Increase in merchandise inventory...

Q: What is the advantage of using comparative statements for financial analysis rather

What is the advantage of using comparative statements for financial analysis rather than statements for a single date or period?

Q: Why are most large companies like Microsoft, PepsiCo, Caterpillar,

Why are most large companies like Microsoft, PepsiCo, Caterpillar, and AutoZone organized as corporations?

Q: How would the current and quick ratios of a service business compare

How would the current and quick ratios of a service business compare?

Q: Prepare a journal entry for the purchase of office equipment on February

Prepare a journal entry for the purchase of office equipment on February 19 for $18,500 paying $4,500 cash and the remainder on account.