1.

Office equipment with accumulated depreciation of $110,000 is sold for cash, resulting in a loss of $25,000. If this office equipment originally had a cost of $200,000, the amount of cash inflow reported in the statement of cash flows relative to the sale is

Select one:

a. $ 65,000.

b. $175,000.

c. $ 25,000.

d. $ 85,000.

e. $135,000.

2.

Ending total assets are $1,500,000, inventory turnover is 6.0 times, net sales are $8,000,000 and the asset turnover is 4.0 times. Given that gross sales are $9,000,000, what is the beginning total asset balance?

Select one:

a. $2,500,000.

b. This cannot be determined from the provided information.

c. $3,000,000.

d. $1,000,000.

e. $ 667,000.

3.

During 2017, Zippo Company had credit sales of $650,000, and the interest receivable balance increased by $10,000. In addition, the beginning accounts receivable balance was $15,000 and the ending accounts receivable balance was $140,000. Based upon this information, what were cash collections from customers in 2017?

Select one:

a. $785,000.

b. $535,000.

c. $775,000.

d. $515,000.

e. $525,000.