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The purchase of supplies appears on the statement of cash flows as an investing activity because it involves the purchase of assets.

Owner financing refers to resources contributed by creditors or lenders.

A company purchased new furniture at a cost of $16,000 on January 1. The furniture is estimated to have a useful life of 6 years and a $1,000 salvage value. The company uses the straight-line method of depreciation. What is the book value of the furniture on December 31 of the first year?

Duece International pays $2,000 rent to the landlord of the building where its facilities are located. How does this transaction affect the accounting equation for Duece?

Marcus Furs purchased equipment costing $45,000 on January 1, Year 1. The equipment is estimated to have a salvage value of $5,000 and an estimated useful life of 8 years. Straight-line depreciation is used. If the equipment is sold on July 1, Year 5 for $20,000, the journal entry to record the sale will include a:

The right side of a T-account is a(n):

If San Antonio Company billed a client for $10,000 of consulting work completed, the accounts receivable asset increases by $10,000 and:

On July 1, Silver Spurs Hotel borrowed $250,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30 of $37,258. What is the journal entry to record the first annual payment?

The current ratio is used to help assess a company’s ability to pay its debts in the near future.

Dover Company is required by law to collect and remit sales taxes to the state. If Dover has $8,000 of cash sales that are subject to an 8% sales tax, what is the journal entry to record the cash sales?