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Answer A & B please Motorcars of Calgary Inc. reported the following financial statements for 2017: (Click the icon to view the income statement.) :
Answer A & B please
Motorcars of Calgary Inc. reported the following financial statements for 2017: (Click the icon to view the income statement.) : (Click the icon to view the comparative balance sheet.) Compute the following investing cash flows: a. Acquisitions of plant and equipment (all were for cash). Motorcars of Calgary sold no plant and equipment. b. Proceeds from the sale of investments. Motorcars of Calgary purchased no investments. (Enter all amounts in thousands.) a. The acquisition of plant and equipment is $ thousand. b. The proceeds from the sale of investments is $ thousand. Motorcars of Vancouver Inc. reported the following financial statements for 2017: E: (Click the icon to view the income statement.) E (Click the icon to view the comparative balance sheet.) Compute the following investing cash flows: a. Acquisitions of plant and equipment (all were for cash). Motorcars of Vancouver sold no plant and equipment. b. Proceeds from the sale of investments. Motorcars of Vancouver purchased no investments. (Enter all amounts in thousands.) a. The acquisition of plant and equipment is $ thousand. X i Comparative balance sheet Income statement Motorcars of Vancouver Inc. Income Statement For the Year Ended December 31, 2017 790 (in thousands) $ Sales revenue. ..... Cost of goods sold ........ ............ Salary expense........................... ....... Depreciation expense....................... Other expenses. Motorcars of Vancouver Inc. Comparative Balance Sheet As at December 31, 2017 and 2016 (in thousands) Assets 2017 2016 Liabilities 2017 2016 Current Current Cash ................... $ 27 $ 15 Accounts payable ..............$ 53 $ 40 Accounts receivable .............. 60 47 Salary payable ........... 28 26 Inventory ............. 77 83 Accrued liabilities ........... 8 11 Prepaid expenses ................. 3 2 Long-term notes payable ...... 69 53 Long-term investments .............. 56 76 Shareholders' Equity Property, plant, and Common shares ........... 49 3 1 229 185 Retained earnings ......... 245 equipment. 247 $ 452 $ Total 408 Total $ 452 $ 408 .................. = Total expenses ..................... 180 680 110 $ Net income ................ Print Done Print DoneStep by Step Solution
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