What is the effect of the sale of $5,000 worth of cash equivalents at cost in the statement of cash flows prepared under the direct method?
a. Add $5,000 in the reconciliation
b. $5,000 investing cash inflow
c. $5,000 operating cash inflow
d. No disclosure
D
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Indicate whether the statement is true or false
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Indicate whether the statement is true or false.
An annuity provides income for
a. a specific period of time or the life of the owner. b. thirty years. c. all of these. d. none of these.
On April 1, Ken's Construction, Inc, enters into a contract to build a store for Lo-Price Retail, Inc, at a specific location in Metro City. On April 10, Metro changes its zoning law to prohibit the construction of a commercial building at that location. Lo-Price files a suit against Ken's Construction. In this situation A) Ken's Construction is in breach of contract
B) Lo-Price Retail is in breach of contract. C) the contract is discharged. D) the contract is suspended.