MC Qu. 169 Fernwood Company is...
Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the beginning of the year | $ | 313,000 | |
Cash dividends declared for the year | 70,000 | ||
Proceeds from the sale of equipment | 120,200 | ||
Gain on the sale of equipment | 6,900 | ||
Cash dividends payable at the beginning of the year | 30,800 | ||
Cash dividends payable at the end of the year | 38,000 | ||
Net income for the year | 154,000 | ||
The ending balance in retained earnings is:
Multiple Choice
$397,000.
$313,400.
$409,300.
$467,000.
$403,900.
MC Qu. 137 A machine with a cost of...
A machine with a cost of $142,000, accumulated depreciation of $91,000, and current year depreciation expense of $20,000 is sold for $44,800 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
Multiple Choice
$44,800.
$46,200.
$26,200.
$6,200.
$20,000.
Question . 169 | |||||
Computation of ending balance of retained earnings : | |||||
Particulars | Amount($) | ||||
Retained earnings balance at the beginning of the year | $ 313,000.00 | ||||
Add : net income | $ 154,000.00 | ||||
Total | $ 467,000.00 | ||||
less : Cash dividends declared for the year | $ (70,000.00) | ||||
Retained earnings balance at the endof the year | $ 397,000.00 | ||||
Question . 137 | |||||
Cash flow under investing activities will show the position resulting purchase equipment, plant and machinery , capital assets and sale of equipment, machinery etc.. | |||||
Amount to be shown under investing activities is : | |||||
Sale value of machinery | $44,800 | ||||
And depreciation , profit / (loss) on sale of asset will be shown under the operating activities. |
MC Qu. 169 Fernwood Company is... Fernwood Company is preparing the company's statement of cash flows...
Hele The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended the following information is available Retained earnings balance at the beginning of the year $129,000 Cash dividends declared for the year 49,000 Proceeds from the sale of equipment 84,000 Gain on the sale of equipment 7,600 Cash dividend payable at the beginning of the year 21.000 Cash dividends payable at the end of the year 23,600 Net Income for the...
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 131,500 Cash dividends declared for the year 51,500 Proceeds from the sale of equipment 86,500 Gain on the sale of equipment 8,100 Cash dividends payable at the beginning of the year 23,500 Cash dividends payable at the end of the year 26,600 Net income for the...
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 133,000 Cash dividends declared for the year53,000Proceeds from the sale of equipment88,000Gain on the sale of equipment8,400Cash dividends payable at the beginning of the year25,000Cash dividends payable at the end of the year28,400Net income for the year99,000What is the ending balance for retained earnings? Multiple Choice $262,000 $179,000 $209,000 $290,000
Alvarez Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year Cash dividends declared for the year Proceeds from the sale of equipment Gain on the sale of equipment Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year Net income for the year $238, eee 51,250 87,200 4,650 22,550 30, see 112,750...
4/The accountant for Mandarin Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 949,000 Net income for the year 295,000 Cash dividends declared for the year 55,000 Retained earnings balance at the end of the year 1,397,000 Cash dividends payable at the beginning of the year 12,600 Cash dividends payable at the end of the year 14,900 What...
Barclays Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year Cash dividends declared for the year Proceeds from the sale of equipment Gain on the sale of equipment Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year Net income for the year $258,000 56,250 96,000 5,250 24,750 32,500 123,750 The amount...
MC Qu. 40 (LO10-5) In its first three years of operations, a company... In its first three years of operations, a company has net income of $2.000.$5,000 and $8.000. It also pays dividends of $1000 in the second year, and $3,000 in the third year. What is the balance of Retained Earnings at the end of the third year? Multiple Choice 55.000 о SLOO O $95.000 O 34000
MC Qu. 181 A company's balance sheet shows... A company's balance sheet shows: cash $54,000, accounts receivable $32,000, office equipment $66,000, and accounts payable $33,000. What is the amount of stockholders' equity? Multiple Choice Ο Ο $33,000. Ο $45,000. Ο S119,000. 5152.000. Ο.
In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: 39 Net income for the year was Accounts payable increased by Accounts receivable decreased by 29,000 Inventories decreased by Cash dividends paid were $54,000 20,000 0.3R 09 7,000 16,000 Depreciation expense was 24,000 Net cash provided by operating activities was: Multiple Cholce $134,000, O $120,000, O $75,000. O $74,000. O $28,000.
MC Qu. 20 Moving Cash Flow You are scheduled to receive a $cft cash flow ... Moving Cash Flow You are scheduled to receive a $540 cash flow in one year, a $840 cash flow in two years, and pay a $440 payment in three years. If interest rates are 8 percent per year, what is the combined present value of these cash flows? Multiple Choice 0 $380.00 0 $1569.45 0 $940.00 0