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54) Which of the following is not an example of operating activities? A) Purchase equipment for cash B) Cash received from a bank loan C) Cash paid to utilities D) Cash received from selling investments C 55) Assume that a company purchases land for $1,000,000 paying $400,000 cash and borrowing the remainder with long term note. How should this transaction be? reported on a statement of cash flow? A) Operating activity B) Investing activity C) Financing activity D) It should not be placed on the cash flow statement. C. Complete the following problems below: 56) A company's property record revealed the following information about its plant assets: Machine No. Cost 1 2 $40,000 $90,000 Salvage Value $2,000 $$10,000 Purchase Date 10/10 8/8 Estimated Life 4 years 5 years Depreciation Method Straight-line Double declining Calculate the depreciation expense for each machine in Year 1 and Year 2 for the year ended December 31. Machine 1: Year 1 Year 2 Machine 2: Year 1 Year 2 57) A company borrowed $20,000 by signing a 180 day note at 9% interest on Mar 2nd. a) The maturity value of the note to be paid back is $ b) The total interest paid on the note for the 180 days is $ c) The note will be due on (month, day) d) The total amount of the note to be paid back is $

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