Braden and Sons, Inc., paid cash to purchase equipment costing $342,000 this year. Also this year, the company sold for $70,000 cash equipment that originally cost $230,000 5 years ago. How should these transactions be listed in the statement of cash flows

Answers

Answer 1

Answer:

The purchases and the sales of equipment must be shown separately as a decrease to cash for $342,000 (purchase) and an increase of $70,000 (sale).

Explanation:

Since the cash is paid for purchased an equipment so the same should be shown in the investing activities as the cash outflow and the company sold $70,000 cash equipment so this also to be shown as the investing activities as the cash inflow

Therefore the last option is correct

Answer 2

In listing these transactions in the Statement of Cash Flows, the proper thing to do is: The purchases and the sales of equipment must be shown separately as a decrease to cash for $342,000 (purchase) and an increase of $70,000 (sale).

The Statement of Cashflows:

Shows the cash transactions of a company Can only show transactions involving actual cash

The amount that was used to purchase equipment was in cash so this will reduce the amount of cash that the company has.

The cash received from the sale of the equipment will be an increase in the company's cash. The previous price of the equipment is irrelevant because it does not involve cash.

In conclusion, the cash made should be added and the cash spent should be deducted.

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Related Questions

The discount rate used to calculate the net present value of a capital budgeting project should be: a. The risk-free rate. b. The weighted average cost of capital. c. LIBOR. d. The internal rate of return.

Answers

Answer:

B

Explanation:

Capital budgeting is the determination of the profitability of proposed investments

One of the capital budgeting methods is the net present value

Net present value is the present value of after-tax cash flows from an investment less the amount invested.

the Weighted cost of capital is used to determine NPV

WACC = weight of equity x cost of equity + weight of debt x cost of debt x (1 - tax rate)

It is the minimum rate of return a company expects from a project

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested. It is a captial budgeting method

MAD Inc. has a capital structure consisting of 40 percent debt and 60 percent common equity financing. The company has $400 million in net income and plans to pay out 25 percent of their earnings as dividends. What is the maximum amount of new financing that the company can raise without selling new common stock

Answers

Answer:

$500 million

Explanation:

Retained earnings = Income * (1 - Dividend payout percentage)

Retained earnings = $400 million * (1-0.25)

Retained earnings = $400 million * 0.75

Retained earnings = $300 million

Amount that can be raise without selling new stock: Retained earnings / % of equity financing in total capital

= $300 million / 60%

= $300 million / 0.60

= $500 million

Cameron, Inc. held 1,000 shares of its own $10 par value common stock purchased for $20 per share. In March, Cameron sold 10 shares at $20 per share. The journal entry to record the sale of treasury stock would include a (debit/credit) ________ to Treasury Stock in the amount of ________.

Answers

Answer:

Credit, $200

Explanation:

The journal entry would be:

Date    Account                 Debit     Credit

            Cash                       $200

            (10 shares*$20)

                   Treasury stock              $200

            (To record the sale of treasury stock)

Assume that Saudi Arabia has production possibilities to produce either 100 barrels of oil using 100 worker hours or 25 bushels of corn using 100 worker hours. If it decides to produce 60 barrels of oil, how many bushels of corn can it produce

Answers

Answer: 10 bushels

Explanation:

If they produce 100 barrels of oil using 100 worker hours, it means that the number of work hours taken for 1 barrel is:

= 100 / 100

= 1 work hour

For bushels however, 1 worker hour produces:

= 25 / 100

= 0.25 bushels of corn

If 60 barrels of oil are produced, it means 60 worker hours were used which would leave 40 worker hours.

Bushels of corn produced is therefore:

= 40 * 0.25

= 10 bushels

Suppose that an increase in the price of melons from $0.50 to $1.50 per pound increases the quantity of melons that melon farmers produce from 2 million pounds to 4 million pounds. The price elasticity of supply in this case indicates that supply is Group of answer choices

Answers

Answer: elastic

Explanation:

The price elasticity of supply will be:

The percentage change in price will be:

= (1.50 - 0.50)/0.50 x 100

= 1.00/0.50 × 100

= 200

The percentage change in quantity will be:

= (4 -2)/2 x 100

= 2/2 × 100

= 100

Elasticity = % change in quantity/% Change in Price = 200/100 = 2

Since elasticity = 2, this indicates supply is elastic as it's greater than 1.

A company projects an increase in net income of $135,000 each year for the next five years if it invests $900,000 in new equipment. The equipment has a five-year life and an estimated salvage value of $300,000. What is the annual rate of return on this investment

Answers

Answer:

the annual rate of return is 22.50%

Explanation:

The computation of the annual rate of return is shown below:

Average investment is

= ($900,000 + $300,000) ÷ 2

= $600,000

Now

Annual rate of return is

= Annual net income ÷ Average investment

= $135,000 ÷ $600,000

= 22.50%

hence, the annual rate of return is 22.50%

On January 1, a company issued and sold a $399,000, 9%, 10-year bond payable, and received proceeds of $394,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal entry to record the first interest payment is:

Answers

Answer:

Cash Interest payable on Bond = $399,000*4.5% = $17,955

Discount to be amortized = ($399,000-$394,000)/20 = $250

Interest expense = $17,955+$250 = $18,205

Date   Journal Entry                                  Debit      Credit            

           Interest Expense                          $18,205

                 Discount on bonds payable                    $250

                 Cash                                                          $17,955

Which of these are considered both short- and long-term investments? Select four options.
CDs
stocks
savings accounts
mutual funds
bonds
commodities

Edge answers please

Answers

Answer:

CDs

Stocks

Mutual funds

Commodities

Explanation:

:)

'Investments' are defined as the 'process of allocating money having an aim of receiving a profit.'

The items that can be considered as both the short, as well as, long-term investments would be:

A). CDs

B). Stocks

C). Mutual funds

E). Commodities

A CD or Certificate of Deposit(CD) is characterized as both the 'short, as well as, long-term' investment because it provides interest and offers a lump-sum on its maturity. Stocks are also such an investment as it offers both intra-day trade and long-term holding options as well. Mutual funds are also a good option for generating both regular incomes in the short-term and big capital gain over a time period. Commodities like gold, crude oil, etc. also offer such an option as it is the item whose price keeps growing and thereby providing an opportunity to earn.

Thus, options A, B, C, and E are the correct answers.

Learn more about 'short-term investment' here:

brainly.com/question/16462918

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