Folder inc sold a piece of equipment for 13400 the book

Assignment Help Accounting Basics

Reference no: EM13570736

1.Clean Dirt, Inc had $8000 of salaries payable at December 31, 2010. During 2011, Clean Dirt's salary expense was $60,000. At December 31, 2011, Clean Dirts statement of cash flows showed cash paid for salaries of $-63000. How much was Clean Dirt's salaries payable balance on its 31, 2011 balance sheet?

A.) $13000

B.) $5000

C.) $3000

D.) $11000

2.Hero sold $4000 worth of its own stock in the stock market. the transaction would ______ cash by $4000 and _____ shareholder's equity by $4000.

a.) increase ; decreas

b.) decrease ; increase

c.) decrease ; decrease

d.) increase ; increase

3.Folder Inc sold a piece of equipment for $13400. The book value of the equipment was $14000. The original cost of the equipment was $19000. A loss on the sale of $600 was reported. The amount of cash on the statement of cash flows was____?

A.) $13400 net inflow

B.) $17600 net inflow

C.) $600 net inflow

D.) $5600 net outflow

Reference no: EM13570736

Questions Cloud

The lifo inventory method has been used the fifo inventory : valman company is considering purchasing ekc company. ekcs balance sheet at december 31 2013 is as followscash 56000

The dean of the school of natural science is trying to : the dean of the school of natural science is trying to decide whether to purchase a copy machine to place in the lobby

The maintenance departments costs are allocated to other : the maintenance departments costs are allocated to other departments based on the number of hours of maintenance use by

The jung corporations budget calls for the following : the jung corporations budget calls for the following productionquarter 1 45000 unitsquarter 2 38000 unitsquarter 3

Folder inc sold a piece of equipment for 13400 the book : 1.clean dirt inc had 8000 of salaries payable at december 31 2010. during 2011 clean dirts salary expense was 60000. at

The firm decides to factor 100000 of its receivables : the firm decides to factor 100000 of its receivables without recourse instead of waiting for collections. institution

A soft drink company has three bottling plants throughout : a soft drink company has three bottling plants throughout the country. bottling occurs at the regional level because of

Average accumulated expenditures relating to the factory : average accumulated expenditures relating to the factory building amounted to 1.8 million this year. 10 interst rate

The controller of a small private college is complaining : the controller of a small private college is complaining about the amount of work she is required to do at the

User Account

All Pages