Multiple Choice
On January 1,2011,Swinger,Inc.purchases a batting machine for $240,000 that has an estimated useful life of 5 years and an expected residual value of $20,000.What is the effect of this transaction on the company's statement of cash flows for the year ended December 31,2011?
A) Financing activity cash inflow of $240,000
B) Financing activity cash outflow of $(240,000)
C) Investing activity cash outflow of $(240,000)
D) The transaction will not be reported on the statement of cash flows.
Correct Answer:
Verified
Correct Answer:
Verified
Q30: Generally accepted accounting principles require the use
Q130: Assume Sundry,Inc.used cash to purchase $8,000 of
Q131: Fair Play,Inc.paid $3,600 on September 1,2011 for
Q133: On January 1,2011,Beyers Company pays $205,000 cash
Q134: For each event,determine the amount of revenue
Q136: On April 1,Spring Floral,Inc.has a balance of
Q137: At December 31,2010,McToil,Inc.owes its employees $20,000 for
Q138: Company A has a profit margin on
Q139: Team instructions: Divide the class into teams
Q140: Recording revenue before it is earned will