A company sold an investment in trading securities originally costing $30,000, for $28,000 . At the beginning of the year, the investment had a valuation allowance of $3,000, debit. What is the correct disclosure for these events on the statement of cash flows prepared under the direct method, assuming that this is the only investment in trading securities?
a. $28,000 operating cash inflow; add $5,000 in the reconciliation of earnings and net operating cash flow
b. $28,000 operating cash inflow
c. $28,000 operating cash inflow; add $33,000 in the reconciliation of earnings and net operating cash flow
d. Add $5,000 in the reconciliation of earnings and net operating cash flow.
C
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British standard setters blazed the trail of accounting regulation being centered in the private sector.
What is the necessary condition for an accused person to be found guilty by a jury?
A. The jury's guilty verdict has to be approved by the presiding judge. B. At least half the jurors have to find the defendant guilty of the crime. C. More than 50 percent of the jurors have to find the defendant guilty of the crime. D. All the jurors have to unanimously agree that the defendant is guilty of the crime.
The journal entry to record the purchase of materials includes a debit to Work in Process Inventory.
Answer the following statement true (T) or false (F)
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A. ambassador B. groupthink C. action learning D. social loafing E. scout