10. In the Green Company, the beginning and ending balances in Land were $198,00
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Question
10.In the Green Company, the beginning and ending balances in Land were $198,000 and $240,000 respectively. During the year, land costing $45,000 was sold for $45,000 cash, and land costing $87,000 was purchased for cash. The entries in the reconciling columns of the worksheet will include a:
A)net debit to Land $42,000 and a credit to Purchase of Land $42,000 under investing activities.
B)credit to Land $45,000 and a debit to Sale of Land $45,000 under investing activities.
C)credit to Land $45,000 and a debit to Sale of Land $45,000 under financing activities.
D)debit to Land $87,000 and a credit to Purchase of Land $87,000 under financing activities.
1.During 2011, Klugman Industries reported cash provided by operations of $690,000, cash used in investing of $1,029,000, and cash used in financing of $135,000. In addition, cash spent for fixed assets during the period was $414,000. No dividends were paid. Based on this information, what was Klugman's free cash flow?
A)($888,000)
B)($339,000)
C)$1,440,000
D)$276,000
14.During the year, Salaries Payable decreased by $6,000. If Salary Expense amounted to $170,000 for the year, the cash paid to employees (including deductions from gross pay) is
A)$170,000.
B)$164,000.
C)$182,000.
D)$176,000.
17.Utley Company had a cost of purchases of $250,000. The comparative balance sheet analysis revealed a $10,000 decrease in inventory and a $20,000 increase in accounts payable. What were Utley's cash payments to suppliers?
A)$260,000
B)$280,000
C)$230,000
D)$220,000
Hope you can show me the steps or explain the answer (: thanks a lot
Explanation / Answer
Utley Company had a cost of purchases of $250,000. The comparative statement of financial posititon analysis revealed a $10,000 decrease in inventory and a $20,000 increase in accounts payable. What were Utley's cash payments to suppliers?
$230,000
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During the year, Salaries Payable decreased by 60,000. If Salary Expense amounted to 1 700,000 for the year, the cash paid to employees (including deductions from gross pay) is
1,760,000
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During 2011, Klugman Industries reported cash provided by operations of 690,000, cash used in investing of 1,029,000, and cash used in financing of 135,000. In addition, cash spent for fixed assets during the period was 414,000. No dividends were paid. Based on this information, what was Klugman's free cash flow? . 276,000
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124. In the Green Company, the beginning and ending balances in Land were $198,000 and $240,000 respectively. During the year, land costing $45,000 was sold for $45,000 cash, and land costing $87,000 was purchased for cash. The entries in the reconciling columns of the worksheet will include
a. credit to Land $45,000 and a debit to Sale of Land $45,000 under investing activities.
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