choose the right answer only

Foghorn Ltd. owns an asset with an original cost of $16,000 and a net book value of $4,400 today. The company no longer needs the asset and has decided to sell it today for $3,000 in cash. Regarding this sale, the journal entry includes:

Options for question 1:

a credit to the asset account of $4,400

a debit to the asset account of $4,400

a debit to the accumulated depreciation of $11,600

a credit to the cash account of $3,000

None of these answers

2) A company sold land for $40,000 that had an original cost of $25,000. What is the effect of this transaction on cash flow? Question 3 options:

Increase in operating cash flow of $15,000.

$25,000 increase in cash flow from investing activities.

$40,000 increase in cash flow from investing activities.

$15,000 increase in cash flow from investing activities.

none of the above

3)

EDF inc has the following classes of shares:

- 1,000 preferred shares issued and outstanding with a par value of $400 per share. Preferred shares are 10% cumulative dividend.

- 50,000 common shares issued and outstanding.

In 2023, the board of directors of EDF inc declared a total dividend of $180,000 to be paid to holders of preferred and common stock. There are no arrears of dividends. What was the amount of the dividend paid in 2023 on each ordinary share?

Question 4 options:

3.60

none of option

1.80

2.00

2.80