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What is the amount of cash received on the sale of equipment

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Reference no: EM132796910

problem 1: Equipment with an original cost of $80,000 and a book value of $60,000 is sold at a loss of $6,000. What is the amount of cash received on the sale of the equipment?

a. $54,000

b. $60,000

c. $74,000

d. $80,000

e. $66,000

The following account balances appear on Martin Company's balance sheet at the beginning and end of 2012:

                                        1/1/2012                  12/31/2012

Dividends Payable            $ 30,000              $ 45,000

Retained Earnings                 380,000           760,000

problem 2: Net income for the year amounted to $450,000. Determine the amount of cash paid for dividends.

a. $70,000

b. $45,000

c. $15,000

d. $55,000

e. $40,000

Reference no: EM132796910

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