AEB 3122 Final: Exam 3 Notes
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Department
Food and Resource Economics
Course
AEB 3122
Professor
Weldon Rick
Semester
Spring

Description
Exam 3 Notes An auditor report by independent accountants gives investors assurance that the companys financial statements conform to GAAP State of Cash Flows o Operating activities Depreciation Loss on sale of land (Increase in accounts receivable) Decrease in inventories Increase in accounts payable Examples that increase cash Increase in salary payable Net income Loss on sale of equipment Decrease in accounts receivable Depreciation of equipment Increase in accounts payable Amortization of intangible assets Examples that decrease cash Increase in prepaid expenses Decrease in accrued liabilities o Financing activities Proceeds from sale of treasury stock (Payment of longterm debt) (Payment of dividends) Examples that increase cash Issuance of common stock for cash Issuance of longterm note payable to borrow cash Purchase of treasury stock Examples that decrease cash Payment of longterm debt Payment of cash dividend o Investing activities Proceeds from sale of land (Acquisition of equipment) Collection of notes receivable Examples that increase cash Cash sale of land Sale of longterm investment Examples that decrease cash Acquisition of building by cash payment Purchase of longterm investment with cash o Noncash investing and financing activities Acquisition of equipment by issuance of note payable o NOT MARKETING ACTIVITIES
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