Answer:
Corinne Company
Investing Activities Section of the Statement of Cash Flows:
Equipment sales $12
Equipment bought ($58)
Net cash used ($46)
Explanation:
a) Data and Calculations:
Balance Sheet of Corinne company at the end of 2025 and 2024:
2025 2024
Cash $50 $70
Accounts receivable (net) 320 270
Buildings and equipment 200 150
Accumulated depreciation
- buildings and equipment (36) (16)
Land 180 80
Totals $714 $554
Accounts payable $180 $146
Notes payable- bank long term 0 80
Mortgage payable 60 0
Common stock, $10 par 418 318
Retained earnings 56 10
Totals $714 $554
b) other information:
Land and Common Stock exchange
Equipment sold for $12 (cost $10 and book value $8)
Cash dividends $20
c) Equipment account
Beginning balance 150
Equipment sold -8
Balance 142
Closing balance 200
Purchase of new 58 (200 - 142)
Answer:
$221,100
Explanation:
Given that,
Book value of equipment = $65,300
Sold at a loss = $14,000
Purchase of a new truck = $89,000
Sale of land = $198,000
Sale of Long term investment = $60,800
Cash flows from investing activities:
= Sale of Equipment - Purchase of a new truck + Sale of land + Sale of Long term investment
= ($65,300 - $14,000) - $89,000 + $198,000 + $60,800
= $51,300 - $89,000 + $198,000 + $60,800
= $221,100
Answer:
The amount Swifty debited to the appropriate account in 2017 to write off actual bad debts: $25,800
Explanation:
Allowance for uncollectible accounts at the end of 2017 = Allowance for uncollectible accounts at the end of 2016 + Bad debt expense of 2017 - The amount of write off actual bad debts.
The amount of write off actual bad debts = Allowance for uncollectible accounts at the end of 2016 + Bad debt expense of 2017 - Allowance for uncollectible accounts at the end of 2017 = $180,500 + $32,800 - $187,500 = $25,800
The cost of car, year, make, model, mileage
First off, the lenders were simply in a position to do so. Secondly, there was an incredible amount of risk involved in loans to pilgrims. Early settlers had numerous obstacles to overcome, such as harsh winters, poor crop yields and the voyage alone to the new world was extremely risky. Dead people cannot pay debts, but those who lived on could. The high risk resulted in high interest rates.
