Cash dividends of $80,000 were declared during the year. Cash dividends payable were $25,000 at the beginning of the year and $20,000 at the end of the year. The amount of cash for the payment of dividends during the year is A.$80,000 B.$75,000 C.$85,000 D.$60,000 Land costing $75,000 was sold for $60,000 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land? A.$75,000 B.$60,000 C.$80,000 D.$15,000 The recording of the jobs completed would include a debit to a.Finished Goods b.Cost of Goods Sold c.Factory Overhead d.Work in Process
Cash dividends of $80,000 were declared during the year. Cash dividends payable were $25,000 at the beginning of the year and $20,000 at the end of the year. The amount of cash for the payment of dividends during the year is A.$80,000 B.$75,000 C.$85,000 D.$60,000 Land costing $75,000 was sold for $60,000 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land? A.$75,000 B.$60,000 C.$80,000 D.$15,000 The recording of the jobs completed would include a debit to a.Finished Goods b.Cost of Goods Sold c.Factory Overhead d.Work in Process
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...
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Cash dividends of $80,000 were declared during the year. Cash dividends payable were $25,000 at the beginning of the year and $20,000 at the end of the year. The amount of cash for the payment of dividends during the year is
A.$80,000
B.$75,000
C.$85,000
D.$60,000
Land costing $75,000 was sold for $60,000 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
A.$75,000
B.$60,000
C.$80,000
D.$15,000
The recording of the jobs completed would include a debit to
a.Finished Goods
b.Cost of Goods Sold
c.Factory Overhead
d.Work in Process
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