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mina [271]
3 years ago
15

A.The loss on the cash sale of equipment was $4,375 (details in b).B. Sold equipment costing $97,875, with accumulated depreciat

ion of $47,125, for $28,625 cash.C. Purchased equipment costing $113,375 by paying $64,000 cash and signing a long-term note payable for the balance.D. Borrowed $5,700 cash by signing a short-term note payable.E. Paid $58,625 cash to reduce the long-term notes payable.F. Issued 4,200 shares of common stock for $20 cash per share.G. Declared and paid cash dividends of $53,500.Prepare a complete statement of cash flows; report its operating activities using the indirect method.
Business
1 answer:
n200080 [17]3 years ago
8 0

Answer:

<u><em>Cash Flow Statement </em></u>

Cash flow from Operating Activities

Adjustment for Non - Cash items :

loss on the cash sale of equipment                            $4,375

Adjustment for Working Capital items :

Increase in short-term note payable                           $5,700

Net Cash from Operating Activities                           $10,075

Cash flow from Investing  Activities

Proceeds from sale of equipment                            $28,625

Purchase of Equipment                                            ($64,000)

Net Cash from Investing Activities                           ($35,375)

Cash flow from Financing  Activities

Repayment of the long-term notes payable           ($58,625)

Issue of Common Stocks                                           $84,000

Dividend Paid                                                            ($53,500)

Net Cash from financing Activities                           ($28,125)

Movement During the Year                                     ($53,425)

Explanation:

The Indirect method reconciles the Operating Profit to the Cash Flow from Operating Activities by adjusting the following items, (1) Non-cash items previously included or deducted from the Operating Profit and (2) Changes in Working Capital items.

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6 0
3 years ago
Salvia Company recently purchased a truck. The price negotiated with the dealer was $42,500. Salvia also paid sales tax of $2,50
LenaWriter [7]

Answer:

$48,500

Explanation:

Price $42,500

Sales tax on the purchase $2,500

shipping and preparation costs $3,500

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8 0
2 years ago
Read 2 more answers
A company has total revenue of $50,000,000, cost of sales of $40,000,000, operating expenses of $5,000,000, and financing costs
bekas [8.4K]

Answer:

$30

Explanation:

Earning per share is calculated dividing Earning for the year excluding preferred dividend by outstanding number of shares.

Formula for EPS is as follow:

Earning Per share = ( Net Income  - Preferred Dividend ) / Outstanding Numbers of shares

We need to calculate the net Income, which is calculated as below

Net Income = Revenue - Cost of Goods Sold - Operating Expenses - Financing costs = $50,000,000 - $40,000,000 - $5,000,000 - $2,000,000

Financing costs = $3,000,000

Placing Values in the formula of EPS

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8 0
3 years ago
You see information everywhere. Sometimes it is useful and sometimes it is not. Think of a scenario in which you think informati
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Answer:

Getting Hacked

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Information is one of the (if not the most) powerful weapon that exists and a great asset to those that possess it. That being said if you get hacked and that information gets stolen it can easily turn from being an asset to a liability. The individual that stole this information can use it against you in many ways such as stealing money, blackmail, using your identity, etc. The possibilities are endless.

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3 years ago
Park co. shipped inventory on consignment to recreations co. that cost $50,000. recreations paid $1,200 for advertising that was
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The answer to this question is 30/100*$50,000 = $15,000 remains on the balance sheet at the end of the year.

The $ 1200 paid for advertisement is not included in the cost of inventory.

<span>Cost of inventory=cost of inventory+ any other cost needed to get inventory in place of sale.</span>

6 0
3 years ago
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