Use the equation presented below to answer the question that follows: Cash = CL + LTL + CS + RE – NCCA – LTA where: CL = Current liabilities LTL = Long-term liabilities CS = Common stock RE = Retained earnings NCCA = Noncash current assets LTA = Long-term assets Which of the following activities results in a cash outflow?
a. Decreases in noncash current assets (NCCA)
b. Decreases in long-term assets (LTA)
c. Increases in long-term liabilities (LTL)
d. Decreases in retained earnings (RE)
d
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Anne seems to be experiencing buying anxiety, so Lacey creates a two-column chart. One column is titled "Reasons for Buying Now" and another column is titled "Reasons for Not Buying Now." Lacey is most likely engaging in a(n) ________
A) multiple option B) combination C) impending event D) management E) balance sheet
Cooperative purchasing organizations are firms that specialize in the purchasing function and provide this service to small businesses.
Answer the following statement true (T) or false (F)
Packaged variable values are persistent throughout a user session and each user of the package has his or her own copy of the packaged variable.
Answer the following statement true (T) or false (F)
On January 1, a company issues bonds dated January 1 with a par value of $400,000. The bonds mature in 5 years. The contract rate is 7%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $383,793. The journal entry to record the first interest payment using straight-line amortization is:
A. Debit Interest Expense $12,379.30; debit Discount on Bonds Payable $1,620.70; credit Cash $14,000.00. B. Debit Interest Expense $15,620.70; credit Premium on Bonds Payable $1,620.70; credit Cash $14,000.00. C. Debit Interest Expense $14,000.00; credit Cash $14,000.00. D. Debit Interest Expense $15,620.70; credit Discount on Bonds Payable $1,620.70; credit Cash $14,000.00. E. Debit Interest Payable $14,000.00; credit Cash $14,000.00.