Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

The acquisition of land by issuing common stock is best classified as which type of transaction?

An operating activity

A non-cash investing and financing activity

A cash financing activity

A cash investing activity

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Understand the classification of activities in the statement of cash flows: Operating activities involve the primary operations of the business, investing activities involve the acquisition or disposal of long-term assets, and financing activities involve transactions related to equity and debt.

Recognize that issuing common stock is a financing activity because it involves raising capital through equity.

Identify that acquiring land is an investing activity because it involves the purchase of a long-term asset.

Note that this transaction does not involve cash, as the land is acquired by issuing common stock rather than paying cash.

Conclude that the transaction is best classified as a non-cash investing and financing activity, as it combines elements of both investing and financing without the use of cash.