Business, 09.09.2019 18:20, jamiria38

Illinois woodworking company is preparing its statement of cash flows using the indirect
method. during the year, illinois woodworking sold equipment for $6490 cash. the net book
value of the asset was $4770. which of the following statements is true?
a) the cash receipt of $6490 is shown as a positive cash flow in the investing activities section.
b) the gain on sale of $1720 is shown as a positive cash flow in the financing activities section.
c) the gain on sale of $1720 is added back to net income in the operating activities section.
d) the book value of the asset sold is shown as a negative cash flow in the investing activities
section.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 21:30, qhenley

An office manager is concerned with declining productivity. despite the fact that she regularly monitors her clerical staff four times each day—at 9: 00 am, 11: 00 am, 1: 00 pm, and again at 3: 00 pm—office productivity has declined 30 percent since she assumed the helm one year ago. would you recommend that the office manager invest more time monitoring the productivity of her clerical staff? explain.

Answers: 3

continue

Business, 22.06.2019 04:50, smeeden

Allie and sarah decided that they want to purchase renters insurance for the apartment they share. they made a list of all of the items to be covered by the insurance policy, along with their estimated values. if the items to be covered total more than $3000, the insurance company charges an annual premium of 23% of the total value of the items. if the items to be covered total $3000 or less, the insurance company charges an annual premium of 20% of the total value of the items.

Answers: 1

continue

Business, 22.06.2019 15:20, babyduck0664

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."

Answers: 3

continue

Business, 22.06.2019 16:30, DrDre02

:; )write a paragraph of two to three sentences and describe what will happen to a society that does not have a productive workforce?

Answers: 3

continue

Do you know the correct answer?

Illinois woodworking company is preparing its statement of cash flows using the indirect
meth...