Dingo Boot Company uses the direct method to prepare its statement of cash flows. The company had the following cash flows during 2014: Cash receipts from the issuance of common stock ......... $400,000 Cash receipts from customers ............................ 200,000 Cash receipts from dividends on long-term investments ... 30,000 Cash receipts from repayment of loan made to another company
............................................... 220,000 Cash payments for wages and other operating expenses .... 120,000 Cash payments for insurance ............................. 10,000 Cash payments for dividends ............................. 20,000 Cash payments for taxes ................................. 40,000 Cash payment to purchase land ........................... 80,000 See information regarding Ding Boot Company above. The net cash provided by (used in) investing activities is
a. $220,000.
b. $140,000.
c. $60,000.
d. $(80,000).
B
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Hannah Johnson contributed equipment, inventory, and $53,000 cash to the partnership. The equipment had a book value of $25,000 and a market value of $28,000 . The inventory had a book value of $50,000, but only had a market value of $15,000 due to obsolescence. The partnership also assumed a $12,000 note payable owed by Hannah that was originally used to purchase the equipment. What amount
should be recorded to Hannah's capital account? a. $96,000 b. $84,000 c. $108,000 d. $116,000
As it relates to an audit, which of following statement about professional skepticism is true?
a. Professional skepticism is not taken into consideration. b. Professional skepticism relates only to the nature of procedures performed. c. Professional skepticism is an attitude. d. Professional skepticism is determined based upon the importance to a user of the financial statements.
How does performance evaluation relate to workplace violence?
What will be an ideal response?
The submarine sandwich franchise Subway was used in the textbook to describe the concept of
a. Globalization b. Sovereignization c. Internationalization d. Nationalization