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Sergeeva-Olga [200]
3 years ago
6

During 2019, Lowes Company sold equipment with a book value of $120,000 for proceeds of $145,000. The company purchased new equi

pment for $320,000 by signing a long-term note payable. No other transactions impacted long-term asset accounts during 2019. The investing section of the statement of cash flows will report Group of answer choices net cash outflows of $295,000. net cash outflows of $175,000. net cash inflows of $145,000. net cash inflows of $25,000.
Business
1 answer:
pogonyaev3 years ago
6 0

Answer:

Overally, the statement of cash flows will report net cash inflows of $145,000.

Explanation:

The sale would attract proceeds of $145,000 which is a cash inflow to the company.

The profit on sale of ( $145,000 - $120,000 )$25,000 is a non- cash flow item.

The Purchase of  new equipment by signing a long-term note payable is a non-cash financing and investment activity.

Conclusion :

Overally, the statement of cash flows will report net cash inflows of $145,000.

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The economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.

<h3>What is utility?</h3>

Utility refers to the amount of satisfaction a consumer derive from the consumption of certain commodities.

It is the importance or value added to a product or service that helps gives the consumer useful information about all products and services.

Hence, the economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.

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4 0
2 years ago
Saira's Maid Service began the year with total assets of $120,000 and stockholders' equity of $40,000. During the year the compa
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Answer:

$110,000

Explanation:

Calculation for How much was stockholders' equity at the end of the year

Beginning balance of stockholders' equity $40,000

Add net income $90,000

Less the dividends paid ($20,000)

Ending stockholders' equity $110,000

Therefore How much was stockholders' equity at the end of the year is $110,000

5 0
3 years ago
Jackson is the owner of a small pizzeria and draws a variety of competition—from other local restaurants offering pizza to the l
Nataly [62]

Answer:

The correct answer is letter "B": False.

Explanation:

Small businesses have an advantage in differentiating their products because they are closer to their clients and are often more flexible than their bigger competitors. The differentiation of innovative goods is often a key factor in small business success.

6 0
3 years ago
A machine costing $251,800 was purchased May 1. The machine should be obsolete after three years and, therefore, no longer usefu
e-lub [12.9K]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

A machine costing $251,800 was purchased May 1. The machine should be obsolete after three years and, therefore, no longer useful to the company. The estimated salvage value is $3,400.

A) Straight-line:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (251,800 - 3,400)/3= $82,800

B) Double declining balance:

Annual depreciation= 2*[(original cost - residual value)/estimated life (years)]

Year 1= (248,400/3)*2= 165,600

Year 2= 55,200

Year 3= 18,400

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3 years ago
Never use a circular saw that doesn't have a lower blade gaurd bcause the
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The guard prevents you from touching the blade.
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