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3 years ago

Whats considered a fixed assest

Business

1 answer:

Igoryamba3 years ago

3 0

Answer:

see below

Explanation:

Fixed assets are valuable items that cannot be converted into cash quickly. They are assets not meant for sale or consumption up in the current financial year.

Fixed assets are tangible or physical assets used by businesses in the productions or provision of services. They provide long term financial benefits to a business. Fixed assets have a useful life of more than one year. Land, buildings, motor vehicles, plant, and equipment are examples of fixed assets.

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Explain five reasons that may cause a company to redeem its own shares

pochemuha

- Companies buyback shares for a variety of reasons, including firm consolidation, increased equity value, and to appear more financially appealing.

-The disadvantage of buybacks is that they are frequently financed with debt, putting a burden on cash flow.

-Stock repurchases can have a modestly favorable impact on the economy as a whole.

4 0

2 years ago

Simkin Corporation purchased land for $420,000. Later in the year, the company sold a different piece of land with a book value

Murrr4er [49]

Answer:

Transaction Amount Statement of cash-flow

Purchase of land 420000 Investing activities

Sale of land 110000 Investing activities

Loss on sale of land 45000 Operating activities

7 0

3 years ago

Lindsay Corporation had net income for 2018 of $3,000,000. Additional information is as follows: Depreciation of plant assets $1

melamori03 [73]

Answer:

Net cash provided by operating activities for 2018 was $4,560,000

Explanation:

The net cash provided by operating activities can be computed by preparing the operating activities of the statement of cash flow as shown below:

Net income for the year $3,000,000

add depreciation $1,200,000

add amortization $240,000

deduct increase in accounts receivable ($420,000)

add increase in accounts payable $540,000

net cash provided by operations $4,560,000

The cash provided by operating activities is $4,560,000

The rationale for deducting increase in accounts receivable is that the increase deprived Lindsay corporation cash of $420,000.

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4 years ago

The adjusted trial balance of Antoine Corporation at December 31 shows that sales revenue for the year was $ 535 comma 000 and o

vovangra [49]

Answer:

Explanation:

The closing entries for the following accounts are shown below:

1. Sales Revenue A/c Dr $535,000

Other revenue A/c Dr $41,000

To Income Summary A/c $576,000

(Being revenue account closed)

2. Income Summary A/c Dr $530,000

To Cost of goods sold $305,000

To other expenses $225,000

(Being expenses accounts are closed)

3. Income summary A/c Dr $46,000

To Retained earning $46,000

(Being the difference is credited to retained earning)

4. Retained earnings A/c Dr $20,000

To Dividend A/c $20,000

(Being dividend account is closed)

3 0

3 years ago

A random sample of 16 students selected from the student body of a large university had an average age of 25 years and a standar

Alla [95]

Not significantly different from 24

3 0

3 years ago