Question

Foundations spring 2020 Manuel Garda 1 no 10:45 PM Homework: S11-8 complete HW Score: 0%, 0 of 10 pts Question Help Score: 0 of 10 pts 1 of 1 S11-8 (similar to) Dales Computer Sales, Inc., reported the following financial statements for 2018 Click the loon to view the income statement the loon to view the comparative e sheets) Calculate the following investing cash flows, enter amore in thousands a. Acquisitions of plant assets all were for cash. Dallas Computer les sold no plantes during the year b. Proceeds from the sale of investments Datas Computer Sales purchased na investments during the year Dallas Computer les solde plantas duting the year a. Compute the acquisitions of plant assets all were forca The acquisition of plant assets is $ thousand Data Table Data Table Dallas Computer Sales, Inc. Comparative Balance Sheets December 31, 2018 and 2017 Dallas Computer Sales, Inc. Income Statement Year Ended December 31, 2018 in thousands) 2018 2017 in thousands) Assets Current $ 525 49 8 Accounts receivable Service revenue Cost of goods sold Salary expense Depreciation expense Inventory 2018 2017 Liabilities Current $ 275 12 Accounts payable 69 42 Salary payable 76 90 Accrued abilities 6 4 Long term not payable 230 188 55 73 Stockholders' Equity Common stock 56 57 Prepaid expenses Other expenses Plant assets, ne Long-term investments balo 248 233 or any number in the edit fields and then 452 $ Retained earnings 40 Total Done remaining

Answer 1

a. The acquisition of plant assets is $72 thousand.

Plant assets purchased = $230 - ($188 - $30) = $230 - $158 = $72

b. Proceeds from the sale of investments is $18 thousand.

Since there is no gain or loss on sale of investments that has been given, it is presumed that the investments were sold at book value due to which there was no gain or loss.

Sale proceeds = $73 - $55 = $18