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Problem 1: Bramble Corp. sold some of its plant assets during 2021. The original cost of the plant assets was $910000 and the accumulated depreciation at date of sale was $849000. The proceeds from the sale of the plant assets were $89500. The information concerning the sale of the plant assets should be shown on Bramble's statement of cash flows (indirect method) for the year ended December 31, 2021, as a(n)
Option 1: addition of $89500 to net income.Option 2: subtraction from net income of $28500 and a $89500 increase in cash flows from investing activities.Option 3: subtraction from net income of $28500 and a $61000 increase in cash flows from financing activities.Option 4: addition to net income of $28500 and a $89500 increase in cash flows from investing activities.
Close to year-end, Fox Co. bought several investments, What amount should Fox report as trading securities in its year-end balance sheet?
On January 1, 2017, Boston Enterprises issues bonds that have a $3,400,000 par value, How would write the journal entry issuance
Interest of 5% on 1/1 capital balances. Salaries: Annie = $8,000, Barry = $5,000. Calculate the Annie's income for 2020 and Barry's income for 2020
Explain Why is interest on partner's capital allowed in the distribution of profit ? Is it allowed even if the operations resulted to a loss?
On January 1, 2011 Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $600,000 cash. At January 1 2011, Sedona's net assets had a total carrying amount of $420,000.
Compute the current break-even point in units, and compareit to the break-even point in units if Alice's ideas areused.
the companys equipment all of which was purchased on june 1 cost 95000 with an estimated residual or salvage value of
Trading Securities. (h) Warehouse in Process of Construction. Instructions: For each of the accounts above, indicate the proper balance sheet classification
Ottawa University sold 15,000 season football tickets at $80 each for its six-game home schedule. What entry should be made when the tickets were sold
at the end of the year x company can accept a special order that will result in immediate profit of 28000. however if
scenariositara textile is one of the renowned textile companies in pakistan. it has a strong supply chain network of
Today is January 2, 2019, and investors expect the annual risk-free interest rates in 2019 through 2021 to be - What is the yield to maturity for Treasury bonds
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