State the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows: Retired $290,000 of bonds, on which there was $2,900 of unamortized discount, for $302,000.
Sold 7,000 shares of $20 par common stock for $40 per share.
Sold equipment with a book value of $52,900 for $76,200.
Purchased land for $371,000 cash.
Purchased a building by paying $56,000 cash and issuing a $120,000 mortgage note payable.
Sold a new issue of $300,000 of bonds at 98.
Purchased 6,800 shares of $30 par common stock as treasury stock at $59 per share.
Paid dividends of $2.00 per share. There were 21,000 shares issued and 3,000 shares of treasury stock.

Problem 2-18 job-order costing for a service company [lo2-1, lo2-2, lo2-3]speedy auto repairs uses a job-order costing system. the company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 10,000fixed overhead cost $ 90,000variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate.2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 600direct labor cost $ 180direct labor-hours used 2 compute mr. wilkes' total job cost. 3. if speedy establishes its selling prices using a markup percentage of 30% of its total job cost, then how much would it have charged mr. wilkes?

Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund

Taking commercial paper means the holder acts honestly