Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements.
Jun. 1 Jenna Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock.
Jun. 2 The company purchased land worth $49,000 for an office by paying $6,300 cash and signing a long-term note payable for $42,700.
Jun. 3 The company purchased a portable building with $55,000 cash and moved it onto the land acquired on June 2.
Jun. 4 The company paid $3,000 cash for the premium on an 18-month insurance policy.
Jun. 5 The company completed and delivered a set of plans for a client and collected $6,200 cash.
Jun. 6 The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500.
Jun. 7 The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days.
Jun. 8 The company purchased $1,150 of additional office equipment on credit.
Jun. 9 The company completed engineering services for $22,000 on credit.
Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent cost must be paid within 30 days.
Jun. 12 The company collected $7,000 cash in partial payment from the client billed on June 9.
Jun. 14 The company paid $1,200 cash for wages to a drafting assistant.
Jun. 17 The company paid $1,150 cash to settle the account payable created in on June 8.
Jun. 20 The company paid $925 cash for minor maintenance of its drafting equipment.
Jun. 23 The company paid $9,480 cash in dividends.
Jun. 28 The company paid $1,200 cash for wages to a drafting assistant.
Jun. 29 The company paid $2,500 cash for advertisements on the web during June.
Required:
Journalize the above entires.
Answers
Answer:
1 - Cash (Dr.) $100,000
Office equipment (Dr.) $5,000
Drafting equipment (Dr.) $60,000
Capital (Cr.) $165,000
2- Land (Dr.) $49,000
Cash (Cr.) $6,300
Long term notes payable (Cr.) $42,700
3- Portable building (Dr.) $55,000
Cash (Cr.) $55,000
4- Insurance premium (Dr.) $3,000
Cash (Cr.) $3,000
5- Cash (Dr.) $6,200
Service Revenue (Cr.) $6,200
Explanation:
6- Drafting equipment (Dr.) $20,000
Cash (Cr.) $9,500
Long term notes payable (Cr.) $10,500
7- Accounts Receivable (Dr.) $14,000
Service revenue (Cr.) $14,000
8- Office equipment (Dr.) $1,150
Accounts Payable (Cr.) $1,150
9- Accounts Receivable (Dr.) $22,000
Engineering Service (Cr.) $22,000
10- Cash (Dr.) $9,000
Accounts Receivable (Cr.) $9,000
11- Wages expense (Dr.) $1,200
Cash (Cr.) $1,200
12- Accounts Payable (Dr.) $1,150
Cash (Cr.) $1,150
13- Maintenance expense (Dr.) $925
Cash (Cr.) $925
14- Dividends (Dr.) $9,480
Cash (Cr.) $9,480
15- Wages expense (Dr.) $1,200
Cash (Cr.) $1,200
16- Advertising expense (Dr.) $2,500
Cash (Cr.) $2,500
Related Questions
At a Hallmark store you can find several lines of greeting cards, including Fresh Ink, Nature’s Sketchbook, Shoebox, Maxine, Mahogany, and Tree of Life cards—all made by Hallmark for sale in its stores and intended to appeal to different target markets. The Mahogany line is designed to appeal to African Americans. This is an example of ________ segmentation.
Answers
The aforementioned illustration shows how demographic segmentation is used, with the Mahogany line being created with African Americans in mind.
What do you mean by segmentation?The process of segmenting a target market into groups of potential customers with similar requirements and behaviors involves dividing the market into segments.
The division of consumers into segments according to their demographic traits is known as demographic segmentation. Age, gender, income, education, religion, nationality, and other factors are included in this.
Thus, the correct answer to be filled in the given blank is Demographic segmentation.
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The present value of the tax cost associated with the current sale of inventory for 50,000 and subsequent of Owl stock for 70,000
Answers
According to the question the present value of the tax cost would be $162,500.
What is tax cost?Tax cost is the amount of money paid to the government in the form of taxes. It is the amount of money that individuals, businesses, and other organizations must pay to the government based on their income, profits, or other activities. Tax costs can include income taxes, property taxes, sales taxes, payroll taxes, and other forms of taxes. Depending on the country or jurisdiction, different types of taxes may be included in the tax cost calculation.
The present value of the tax cost associated with the current sale of inventory for $50,000 and subsequent sale of Owl stock for $700,000 depends on the applicable tax rate in your jurisdiction.
Assuming a tax rate of 25%, the present value of the tax cost would be $162,500
($50,000 x 25% + $700,000 x 25%).
= $162,500.
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Click this link to view O*NET's Work Activities section for Architects. Note that common activities are listed toward the
top, and less common activities are listed toward the bottom. According to O*NET, what are common work activities
performed by Architects? Check all that apply.
repairing and maintaining mechanical equipment
communicating with persons outside of the organization
drafting, laying out, and specifying technical devices, parts, and equipment
using dynamic flexibility to repeatedly bend, stretch, or twist with arms or legs
using night vision and peripheral vision
making decisions and solving problems
thinking creatively
Answers
Answer:
communicating with persons outside of the organization
drafting, laying out, and specifying technical devices, parts, and equipment
making decisions and solving problems
thinking creatively
B, C, F, G
Explanation:See attachment
I am thirteen and need to make money what should I do?
Answers
Answer:
Sell slime ,Leamondae stand, baby, dog walk, Sell art
Explanation:
Why is career success dependent upon an individual's ability to develop and apply their diversity consciousness?
Answers
Answer:
Career success is based on ones ability to recognize and apply diversity consciousness because one is able to associate well with his/her colleagues.
Explanation:
Sally brings home $50,000 a year to help provide financial support to her family, comprised of her husband and two children. She is considering purchasing life insurance. Using the earnings multiple approach, how much coverage should she purchase using a discount rate of 5% to replace 10 years of earnings.
Answers
Answer:
$386,080
Explanation:
In order to find the Coverage of sally's investment in life insurance for 10year can be done by making 10-year table
Year Cashflow Discount factorI5%) Present Value
$ $ $
1 50,000 0.9524 47,620
2 50,000 0.9070 45,350
3 50,000 0.8638 43,190
4 50,000 0.8337 41,135
5 50,000 0.7835 39,175
6 50,000 0.7462 37,310
7 50,000 0.7107 35,535
8 50,000 0.6768 33,840
9 50,000 0.6446 32,230
10 50,000 0.6139 30,695
NPV = Sum of all present values
NPV = $386,080
The ________ concept specifically focuses on the future welfare of customers, but not on future company needs.
A) societal marketing
B) strategic planning
C) sustainable marketing
D) marketing
E) selling
A
Answers
The societal marketing concept specifically focuses on the future welfare of customers, but not on future company needs. The appropriate response is option A.
What is societal marketing ?According to the marketing principle known as "societal responsibility of marketing," a business should also take into account the long-term interests of society when making marketing decisions.
Marketing that has a social component or incorporates non-economic factors is known as "societal marketing." Societal marketing "cares for the long-term interests of society." It is about "the immediate advantages for the organization and the subsequent advantages for the community."
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Which statement describes a surplus in a market?
Answers
Answer:
A surplus describes a level of an asset that exceeds the portion used. An inventory surplus occurs when products remain unsold.Budgetary surpluses occur when income earned exceeds expenses paid.A surplus results from a disconnect between supply and demand for a product, or when some people are willing to pay more for a product than other consumers. A surplus causes a market disequilibrium in the supply and demand of a product.Learn more about it
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Answer: a
Explanation:
Which of the following would be an advantage of engaging in international
trade over domestic trade?
Answers
Larger growth opportunities based on market size would be an advantage of engaging in international trade over domestic trade. Thus, option (b) is correct.
Businesses can reach a larger market through international trade, increasing their revenue. A company can run a higher risk of failing if it primarily concentrates on the home market since it is more susceptible to domestic economic developments.
International trading enables a business to diversify its clientele and lessen its reliance on a single market.
As a result, the significance of the advantage of engaging in international trade over domestic trade are the aforementioned. Therefore, option (b) is correct.
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Your question is incomplete, but most probably the full question was.
Which of the following would be an advantage of engaging in international
trade over domestic trade?
A. Higher cost of production due to higher labor costs
B. Larger growth opportunities based on market size
C. Clear understanding of laws and statutes concerning business operations
D. Less choice for consumers because of fewer products
in a survey of companies, it was found that 45 were in the mining sector, 72 were in
the financial sector, 32 were in the IT sector and 101 were in the production sector,
Answers
Answer:
0.288
0.308
Explanation:
Given :
Mining sector = 45
Financial sector = 72
IT sector = 32
Production sector = 101
Total number of companies :
(45 + 72 + 32 + 101) = 250
A.)
Probability that a randomly selected company is in the financial sector
Recall :
Probability = required outcome / Total possible outcomes
P(company = financial) = (number of companies in financial sector / total number of companies)
P(company = financial) = 72 / 250 = 0.288
B.)
Company is either a mining or IT company :
P(company = Mining or IT) = (number of mining + number of IT Companies) / total number of companies
P(company = Mining or IT) = (45 + 32) / 250 = 77 / 250 = 0.308
On July 1, the cash account balance was $36,310. During July, cash payments totaled $147,780 and the July 31 balance was $36,480.
Answers
For the month of July, there were $147,950 in cash receipts.
What are some instances of a cash account?In a cash account, the investor must pay the entire price for any securities they choose to acquire. It is against the law for an investor using a cash account to borrow funds from their broker-dealer in order to cover account transactions. (trading on margin).
What does a cash account with a negative balance of 1000 mean?Both assets and expenses have natural debit balances. This illustrates the debiting of positive asset and cost values and the crediting of negative balances. After receiving $1,000 in cash, for instance, a journal entry can include a debit of $1,000 to the cash account in the accounting program.
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eight business functions
Answers
2: Production
3: Public Relations
4: Finance
5: General Management
6: Purchasing
7: Administration
8: Technology and equipment
Which of the following are correct when calculating the cost of a unit of output? (cost unit):
i. All fixed costs are indirect costs
ii. All indirect costs are fixed costs
iii. All variable costs are direct costs
iv. All direct costs are variable
v. All indirect costs are overheads
Group of answer choices
i. only
i. iv. and v.
i. and ii.
ii. and iii.
ii. iii. and iv.
Answers
i. iv. and v. All fixed costs are indirect costs, all direct costs are variable, all indirect costs are overheads.
Indirect cost are those which are associated with the process of production indirectly. They are incurred other then the production in which indirectly the material is used. Whereas the direct costs are the one time investments made in the production process so that the process could be made easier.
Costs and overheads are basically part of every production they can added as repairs ,trade expenses etc which makes the process continuous. Variable costs are floating in nature.
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Martha realizes that the microwave she bought is faulty after a month of purchase. The manufacturer of the microwave asks Martha to pay the repair expenses as the fault was with a part that was out of warranty. Martha was unaware of this warranty condition. What should Martha do to resolve her grievance?
Answers
If Martha was unaware of this warranty condition. What Martha should do to resolve her grievance is: c. approach the Federal Trade Commission.
What is Federal Trade Commission?Federal Trade Commission can be defined as the agent whose sole responsibility is to fight for consumer right in a situation where buyers of a product are not treated rightly by a seller or when a company defraud a potential customers.
The best thing is for her to approach the federal trade commission and explain what transpire between her and the seller in which this agency will investigate the matter and fight for her right since their duties is to protect buyers from sellers.
Therefore we can conclude that Martha should approach the Federal Trade Commission so as to make her complaints.
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The complete question is:
Martha realizes that the microwave she bought is faulty after a month of purchase. The manufacturer of the microwave asks Martha to pay the repair expenses as the fault was with a part that was out of warranty. Martha was unaware of this warranty condition. What should Martha do to resolve her grievance?
A. pay for the repair
B. contact the Food and Drug Administration
C. approach the Federal Trade Commission
D. buy a new microwave
E. recycle the microwave responsibly
Answer
The answer is C, approach the Federal Trade Commission.
Explanation:
What type of entrepreneurial activity would you engage in?
Answers
Read the following situation, and then answer the questions.
You have been working in an entry-level position in the Environmental Health and Safety division of a company for the last six months. You spend your time reviewing safety reports, entering them into the database, and compiling statistical analyses of the results for your superior, Ray Blaine. Lately, Mr. Blaine has been asking you when each report will be finished. Following this query, Mr. Blaine often compliments you on the results of your past analyses.
1) What is the most important message your superior is trying to deliver?
A. He is worried about the results of your analysis.
B. He wants to know when the report will be ready.
C. You are ready for a promotion.
2) What can you do to listen more effectively to your superior?
A. Lean forward and make eye contact.
B. Paraphrase his questions in return.
C. Ask questions in return.
Answers
Answer:
1)B
2)C
Explanation:
1) Mr. Blaine wants to know when will the results be ready. He is complimenting to let you know that he has good expectations from you.
2) Asking questions in return lets the other person know that you are interested in the conversation.
Answer:
Question 1 answer is B
Question 2 answer is C
Explanation:
1. From the data in the question, we can tell what your superior has in mind.
- The fact that Mr Blaine has been asking when each report will be finished shows that he is concerned ABOUT THE AMOUNT OF TIME it takes you to complete work on a safety report.
- He often compliments you on the results of your past analyses. This means that he is recertifying that your results come out fine and accurate BUT need to start coming out FASTER. He uses the compliments to lift your spirit so you don't feel downcast by the complaints. So you can be sure that as far as the work is concerned, YOU ARE GETTING IT RIGHT but as far as delivery window is concerned, you are delivering SLOWLY.
So the answer is B - he is most concerned about the timeframe you use to go through each report. He wants you to understand that good timing adds to the quality of a result!
2. The three options here are things you can do, to listen more effectively to your superior. The most important though is C.
You need to ask questions in return!
- Ask questions on the clarification of what exactly you are expected to do, in order to produce results that are both accurate and timely.
- Ask Mr. Blaine how he thinks you should go about it.
- Ask questions where you don't understand
- Ask when exactly you are to submit each result
After he replies, put his advice and corrections into practice.
Grand Travel just paid an annual dividend of $2.3 a share and is expected to increase that amount by 5 percent per year. If you are planning to buy 1,000 shares of this stock next year, how much should you expect to pay per share if the market rate of return for this type of security is 10 percent at the time of your purchase?
Answers
The price I would expect to purchase 1000 shares next year will be $48,300.
What price will I be willing to pay for the shares?The price of the share can be determined using the Gordon constant growth dividend model. According to this model, the price of a share is a function of the dividend, growth rate and the discount rate.
Price of the share = [dividend just paid x (1 + growth rate] / (discount rate - growth rate)[2.3 x (1 + 0.05)] / (0.1 - 0.05) 2.415 / 0.05 = $48.30 Price of 1000 shares = $48,30 x 1000 = $48,300
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which of the following are examples of what can function as the first stage in rational decision making by managers?
Answers
Bad product quality, revenue declines, and customer complaints are a few instances of what can serve as the starting point for managers to make sensible decisions.
What is a revenue?The entire income from sales of goods and services that are directly connected to a company's primary business operations is referred to as revenue in the context of accounting. Sales or turnover are other terms for commercial revenue. Several firms derive their money through interest, royalties, and other charges.
In the sentence "Last year, Business X had revenue of $42 million," "revenue" can refer to income in general or the total amount earned over a certain period of time, represented in a unit of currency. Profits or net income are sometimes defined as total revenue minus total expenses for a certain time frame.
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"Which of the eight reasons for new-product failure did GoPro avoid to ensure the success of GoPro’s products?"
Answers
Answer and Explanation:
Non-significant difference point as the point of differnce represents the product and services factors that develops the differentiation. Also the goods and services could become distinct as compared with the competitor via differentiation. Also it place its new product apart from many products that provides the advantage against competitors. And when the product is different so it rise the curosity to give a try for that product, and to get to know its benefits
The insignificant point of difference is the reason that Go Pro avoided to ensure product success.
What is the insignificant point of difference ?
If a new product does not have the characteristics or the features to deliver unique product then there is every possibility that it could lead to failure in the market.
This point is one of the reasons why the company had to avoid this to ensure their success.
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At Herbal Tea Inc., a team of IT workers uses applied math to help the company budget advertising dollars across its entire market. The formulas these employees use indicate the optimal ways to allocate spending so that the company achieves maximum potential. What form of business analytics is this company using
Answers
Answer:
Prescriptive method
Explanation:
The prescriptive methods are the last stage of analyzing the data on which the results are based. It can be done by using business rules, algorithms, etc
Based on this it is easy for the company to understand it and according to that, the decisions are taken. It also involves structured and unstructured data so that it makes efficient use without compromising the quality
Therefore according to the given situation, it is mentioned that there are efficient ways of distributing the spending in order to accomplish the maximum potential
Hence, it is the form of prescriptive method
Question 1
A) How does the taxation of a corporation differ from that of a sole proprietorship and partnership?(1 point)
Taxes are said to pass through the corporation and onto owners.
The corporation pays no tax.
The corporation is taxed, and then shareholders are additionally taxed.
The earnings of shareholders are taxed directly.
Question 2
A) Which of the following business structures is said to have unlimited life?(1 point)
sole proprietorship
limited partnership
general partnership
corporation
Question 3
A) Corporations, limited partnerships, and limited liability partnerships differ from sole proprietorships and general partnerships in(1 point)
decision-making.
number of owners.
liability.
lifespan.
Question 4
A) Which of the following describes a primary difference between corporations and unincorporated businesses?(1 point)
The liability of owners is limited.
Decisions are made by a board of directors.
Two or more members are required to form a corporation.
Shareholders may have to liquidize assets to cover failures of the corporation.
Question 5
A) Sophia and Mia are interested in starting a business venture together. Other firms in the industry face high financial risks and tricky legal requirements that could easily get them into costly trouble. Which of the following would be the wisest choice of business structure for Sophia and Mia to pursue?(1 point)
general partnership
corporation
sole proprietorship
limited partnership
Answers
1. The main difference between the taxation of a corporation and a sole proprietorship and partnership is C. The corporation is taxed, and then shareholders are additionally taxed.
Shareholders suffer double taxation when the corporation distributes dividends to the stockholders.The corporate profits are taxed at a corporate rate, which is usually higher than the personal tax rates. Dividend income received from the corporation by stockholders is also taxed at personal tax rates.2. The business structure with unlimited life is the D. corporation
The business structure defines the form and ownership status of a business entity. A corporation enjoys separate life from the owners and is not tied to the owner's lifespan.3. These three business structures differ from a sole proprietorship and general partnership in C. liability
The liabilities of Corporations, limited partnerships, and limited liability partnerships are limited to the extent of members' capital contributions, unlike for a sole proprietorship or general partnership.
4. The primary or basic difference between a corporation and an unincorporated business is A. The liability of owners is limited.
An unincorporated business is not a legally registered entity. For example, a sole proprietorship and general partnership. Therefore, they also suffer from unlimited liability.5. The wisest choice of a business structure that Sophia and Mia can pursue is A. general partnership.
Thus, the formation of a general partnership will meet Sophia and Mia's requirements and save them from high financial risks.
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Answer:
1. The corporation is taxed, and then shareholders are additionally taxed.
2. Corporation
3. liability
4. Decisions are made by a board of directors.
5. Corporation
John catches lobsters in Maryland and sells them to a hotel restaurant in Mexico. Other things the same, these salesa) decrease U.S. net exports and have no effect on Mexican net exports.b) decrease U.S. net exports and increase Mexican net exports.c) increase U.S. net exports and decrease Mexican net exports.d) increase U.S. net exports and has no effect on Mexican net exports
Answers
John buys lobsters from a Mexican hotel restaurant after catching them in Maryland. The net exports of the United States will rise while those of Mexico will fall, other things being equal.
What is GDP?
The most widely used indicator of an economy's size is its gross domestic product (GDP). GDP can be calculated for a nation, a region (such as Tuscany in Italy or Burgundy in France), or for a group of nations (such as the European Union) as a whole (EU).
GDP is calculated as private consumption + gross domestic product + government investment plus (exports – imports). The country's national statistical office often uses the international standard to compute GDP.
Consumer spending and company investment are two factors that frequently fuel economic growth. To give money back to customers and increase expenditure, tax cuts and rebates are utilized. Deregulation loosens the restrictions placed on firms and has been credited with fostering growth, but it can also encourage taking undue risks.
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What is the best way to deal with conflict in the workplace?
Answers
Answer: the answer is C
Explanation:
Sometimes negative, sometimes positive
Oil refining involves processing crude oil into several different products. It often starts with a fractional distillation column. Crude oil is heated and the different products are collected at different temperatures. For example, lubricating oil, used for motor oil, grease and other lubricants, boils at a temperature between 572 to 700°C. After this, chemical processes are used to remove impurities. A system of pipes is used to link all the different processes so that refining continues uninterrupted. Saudi Aramco is the largest oil corporation in the world and is involved in all stages of oil production. It manages over 100 oil and gas fields in Saudi Arabia. It employs over 65 000 people and is capable of refining around 2 million barrels per day. In 2015, the company was generating about US$1000 million of revenue per day.
1 What is meant by flow production? Use this case study as an example in your explanation.
2 Assess the advantages and disadvantages to Saudi Aramco of flow production. Make a clear judgement in your evaluation.
Answers
Flow production is a type of production system in which products are produced in a continuous, uninterrupted manner. This type of production is used in industries such as oil refining, where a steady flow of products is necessary to meet demands.
In the case of Saudi Aramco, flow production allows them to refine up to 2 million barrels of oil per day, which is essential to meet the demands of the global market.
What are the advantages and disadvantages of the production?The advantages of flow production for Saudi Aramco include increased efficiency, cost savings, and increased output. The continuous production process reduces the amount of time and energy needed to produce each product, allowing for greater efficiency. Additionally, the cost of production is reduced as the same equipment and materials can be used for multiple products. Lastly, the steady production process allows Saudi Aramco to produce more products to meet the demands of the global market.
The main disadvantage of flow production for Saudi Aramco is the potential for mistakes or breakdowns. As the production process is continuous, any mistake or breakdown can cause a disruption in the entire process. This can lead to significant delays in production and potentially large losses in revenue. Additionally, if the production process is not properly monitored, the quality of the products can suffer.
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what are pervasiveness of risk in bussiness
Answers
"B) Recall the last time you ate at an expensive restaurant where you paid the bill. Now think about the last time you ate at a similar restaurant, but your parents paid the bill. Did you order more food (or more expensive food) when your parents paid? Explain how this relates to the agency problem in corporations.
"
Answers
Answer:
When a person goes to an expensive restaurant and the parents pay, this person is likely to order more food than if this person goes and pays himself or herself.
This is because in the first case we have the agency problem, because the principal, the parents, and the agent, the child, do not always act on each other best interests.
In the second case, on the other had, this problem does not exist because principal and agent are the same person, since the person who orders is the same person who pays.
What do most companies do when they look to provide an offering to global markets?
Your
1) inform their competitors of their move to a global market
You do
2) send a memo to their internal employees
one op
3) adjust the offering to meet the needs of various other buyers around the globe
4) hold a press conference to answer media questions about selling the offering globally.
Answers
Making an adjustment to the offerings to meet the needs of various other buyers around the globe is done by most of the companies when they look to provide an offering to global markets. Therefore, the option 3 holds true.
What is the significance of global markets?Global markets can be referred to or considered as the relevant market for a business organization or a firm that deals in products or services such that their consumption is at a global level, and two or more countries or continents at large.
When companies require access to the global markets for expansion, they have to keep in mind the needs and demands of different kinds of buyers around the globe too, so that they have an opportunity to attract customers around the globe.
Therefore, the option 3 holds true and states regarding the significance of global markets.
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If you restate a quote in your own words but do not cite your source you can be rightfully accused of
Answers
Answer:
correct, you could be accused of plagerism
If a business invests in stocks or another business, what is its goal?
A. to create a mutual fund
B. to earn revenue for the company
C. to help expand business products
D. to decrease the amount of taxes a business pays
Answers
Answer:
B. to earn revenue for the company
Explanation:
The purpose of investing in stocks is to profit from dividend payments or capital gains. When a company invests in stocks of another business, it becomes a shareholder in that business. It is entitled to share in the profits of the business like any other stakeholder. An increase in the share price will results in profits when the shares are sold. A company will invest in the shares of another business earn more revenue.
Which of the following would appear in the cash flows from investing activities section of the statement of cash flows?
a. Cash received from stock issued
b. Cash received from bonds payable
c. Depreciation expense on equipment
d. Cash paid for equipment
Answers
The correct answer is:
d. Cash paid for equipment
Cash flows from investing activities include transactions related to the acquisition or sale of long-term assets such as property, plant, and equipment. Cash paid for the purchase of equipment would be categorized as an investing activity because it involves the outflow of cash for the acquisition of a long-term asset.