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

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Which of the following is NOT an example of noncash financing and investing activity?

Exchanging bonds payable for equipment

Paying cash dividends to shareholders

Issuing common stock to acquire land

Converting preferred stock to common stock

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Verified step by step guidance

Step 1: Understand the concept of noncash financing and investing activities. These are transactions that do not involve cash but still impact the financing or investing sections of the financial statements. Examples include exchanging assets, converting liabilities, or issuing stock without cash involvement.

Step 2: Analyze each option provided in the question to determine whether it involves cash or is a noncash activity. For example, exchanging bonds payable for equipment is a noncash activity because no cash is involved in the transaction.

Step 3: Evaluate the option 'Paying cash dividends to shareholders.' This involves the use of cash, making it a cash transaction rather than a noncash financing or investing activity.

Step 4: Review the option 'Issuing common stock to acquire land.' This is a noncash activity because the company is exchanging stock for land without involving cash.

Step 5: Consider the option 'Converting preferred stock to common stock.' This is also a noncash activity because it involves the conversion of one type of equity to another without cash involvement.