Effect of transactions on cash flows state the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows: retired $240,000 of bonds, on which there was $2,400 of unamortized discount, for $250,000. sold 12,000 shares of $30 par common stock for $51 per share. sold equipment with a book value of $53,900 for $77,600. purchased land for $386,000 cash. purchased a building by paying $53,000 cash and issuing a $120,000 mortgage note payable. sold a new issue of $210,000 of bonds at 99. purchased 4,000 shares of $25 par common stock as treasury stock at $47 per share. paid dividends of $1.70 per share. there were 22,000 shares issued and 4,000 shares of treasury stock. effect amount a. $ b. $ c. $ d. $ e. $ f. $ g. $ h. $

Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2

Camilo is a self-employed roofer. he reported a profit of $30,000 on his schedule c. he had other taxable income of $5,000. he paid $3,000 for hospitalization insurance. his self-employment tax was $4,656. he paid his former wife $4,000 in court-ordered alimony and $4,000 in child support. what is the amount camilo can deduct in arriving at adjusted gross income (agi)?

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.