Reference no: EM131259457
If a firm sells treasury stock for more than it paid for it:
total owners' equity would not change.
retained earnings would increase.
additional paid-in capital would be credited.
the gain on the sale would be recognized on the income statement, below operating income, since it does not involve operations.
additional paid in capital would be debited
Depreciation expense totaled $15,000 for the year; accrued wages decreased $2,000; a new car was purchased for $35,000; accounts receivable increased $7,000; payments on long term debt amounted to $15,000; accounts payable increased $4,000; net income was $65,000 for the year; proceeds from the issuance of common stock were $45,000; dividends paid totaled $7,500; inventory decreased $8,000; What was the net cash provided by operating activities? (don't include cents - round to the nearest dollar)
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Grand company uses job-order costing system
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