Question
CHOOSE RIGHT ANSWER ONLY Choose the best answer. The building accumulated amortization account has a positive variation of $5,000. The building's initial accumulated depreciation balance
CHOOSE RIGHT ANSWER ONLY
Choose the best answer. The building accumulated amortization account has a positive variation of $5,000. The building's initial accumulated depreciation balance was $3,000. No disposal of fixed assets took place during the financial year: Question options:
Cash flow from operating activities under the indirect method increases by $2,000
Cash flow from operating activities under the indirect method increases by $5,000
Building accumulated depreciation ending balance is $2,000
Building accumulated depreciation ending balance is $5,000
CHOOSE RIGHT answer only:
During the 2023 financial year, the IKS company carried out the following operations:
Cash purchase of land for $150,000, Commitment of expenses of $30,000 (fully paid in cash), Cash sale of services for $55,000 Analysis of operations for fiscal year 2023 shows the following: Question options:
Increase in equity of $25,000 and decrease in assets of $150,000
Increase in equity of $55,000 and decrease in assets of $120,000
Increase in equity of $55,000 and decrease in assets of $30,000
Increase in equity of $25,000 and increase in assets of $25,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started