Significant noncash investing and financing activities

Assignment Help Financial Accounting

Reference no: EM13745339

Use the following company information to prepare a schedule of significant noncash investing and financing activities:

(a) Sold a building with a book value of $125,000 for $195,000 cash and land with a book value of $32,000 for $65,000 cash.

(b) Issued 10,000 shares of $10 par value common stock in exchange for equipment with a market value of $135,000.

(d) Acquired land by issuing a ten-year, 9%, $44,000 note payable.

Reference no: EM13745339

Questions Cloud

Food chains in an ecosystem : A complex of interconnected food chains in an ecosystem is called a/an

Reasonable assurance-fairly stated-in all material respects : Auditors provide “reasonable assurance” that the financial statements are “fairly stated, in all material respects.” Questions are often raised as to the responsibility of the auditor to detect material misstatements, including misappropriation of as..

Identify the business rules associated : Identify the business rules associated with your selected business function / operation. Explain the manner in which such business rules would impact the design of a database.

Current practice of testing goodwill for impairment : Do you agree with the current practice of testing Goodwill for impairment or would you prefer the previous practice of amortizing Goodwill over 40 years? Defend your position.

Significant noncash investing and financing activities : Use the following company information to prepare a schedule of significant noncash investing and financing activities: Sold a building with a book value of $125,000 for $195,000 cash and land with a book value of $32,000 for $65,000 cash.

Effect of implementing a right-to-work law : Why not use data from every county instead of limiting the analysis to counties near the right-to-work border - analysis to counties near the right-to-work border

Purchaser of registered securities : Under Section 11 of the Securities Act of 1933 and Section 10(b), Rule 10b-5, of the Securities Exchange Act of 1934, a CPA may be sued by a purchaser of registered securities. The following items relate to what a plaintiff who purchased securities m..

What is the schedule performance index : What is the schedule performance index. What is the estimate at completion. Describe the planning-monitoring-controlling cycle. In your response make sure you discuss the importance of designing the monitoring system, collecting the data, and the v..

Directly from outsiders and indirectly from outsiders : (Audit evidence) During the course of an audit, the auditor examines a wide variety of documentation. Listed below are some forms of documentary evidence and the sources from which they are obtained. Classify the evidence by source into one of four c..

User Account

All Pages