Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer the ten (10) questions given the following data: 1). Net Income was $14,000 2). Dividends declared and paid were $3,000 3). Depreciation Expense was

image text in transcribed
image text in transcribed
Answer the ten (10) questions given the following data: 1). Net Income was $14,000 2). Dividends declared and paid were $3,000 3). Depreciation Expense was $7,000 4). As of Jan 1. 2023, 4.000 shares of $1 par value common stock were issued. 5). As of Jan 1, 2023, 1000 shares were reacquired. 6). Fixed assets that cost $10,000, had accumulated depreciation of $4,000 were sold for $7,000 7). 1,000 shares of stock were reacquired during the year. 8) An additional loan of $20,000 was taken out during the year. What is the adjustment in operating activities related to the change in A/R? in 2023? If the amount appears as a positive in the statement of cash flows, enter it as a positive. If it appears as a negative number in the statement of cash flows, enter a negative sign (-) in front of the number. Do not enter any dollar signs or commas. For example, if the number is negative $4,700, enter 4700. Question 7 0/2 pts What is the adjustment in investing activities related to the purchase of fixed assets during 2023? If the amount appears as a positive in the statement of cash flows, enter it as a positive. If it appears as a negative number in the statement of cash flows, enter a negative sign () in front of the number. Do not enter any dollar signs or commas. For example, if the number is negative $4,700, enter 4700

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting International Edition

Authors: Jeffrey Waybright, Robert Kemp

1st Edition

0137067798, 978-0137067794

More Books

Students also viewed these Accounting questions

Question

A recursive algorithm is an algorithm that calls itself. True False

Answered: 1 week ago