choose the right answer
Question 21 l 10 Points The cash sales 50,000, cash receipts from accounts receivable 40.000, cash purchases 22,000, cash payments to accounts payable 18,000, the cash expenses 20,000. the acquisition of new equipment 70,000 cash, the cash receipts from sale of old equipment 10,000, the cash receipts from issuing new share capital 20,000, the cash receipts form borrowing new long-term loan 15,000, the dividends for shareholders 10,000 and the beginning cash balance is 8,000 then the net cash flow from operating activities is 50.000 0 30.000 None of the other answers 90.000 A company purchased office equipment for $240,000 and estimated a salvage value of $40,000 at the end of its 5-year useful life. if the double-decliningbalance method is used, the amount to be recorded as depreciation expense at December 31, 2017 is G) 43,000. 0 80,000. 40,000. 96,000. A company purchased land for $80,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction ofa new building could start. Under the historical cost principle, the cost of land would be recorded at CA) $80,000. $87,000. Question 24 ( 10 Points At the beginning of the year partners Ahmed and Ali have capital balances in a partnership of 50,000 and 75,000 respectively. The).r agreed to share profit or loss equally. The net income forthe year was 120,000 and Ali drawing account had a balance of 5,000. What will be the ending capital balance ofAhmed? None of the choices are correct 110,000 Question 25 ( 10 P0 A company purchased factory equipment on July 1,201? for 240,000. it is estimated that the equipment will have a 40,000 salvage value at the end ofits 5-year useful life, using the straight-line method of depreciation, the amount to be recorded as depreciation expense on December 31. 2017 is Questions The cash sales 50,000, cash receipts from accounts receivable 40.000, cash purchases 22,000, cash payments to accounts payable 18,000, the cash expenses 20,000, the acquisition of new equipment 70,000 cash, the cash receipts from sale of old equipment 10,000, the cash receipts from issuing new share capital 20,000, the cash receipts form borrowing new long-term loan 15,000, the cash dividends for shareholders 10,000 and the beginning cash balance is 8,000 then the end cash balance is -3000 -5000 3000 None of the other answers @6906) Question 27 l 10 Points At the beginning of the year partners Ahmed and Ali have capital balances in a partnership of 50,000 and 75,000 respectively. Ahmed and Ali agreed to share profit or loss 40% and 60%. respectively. The net income for the year was 125,000 and Ali drawing account had a balance of 5,000. What will be the ending capital balance of Ahmed? 100,000 50,000 None of the other answers 175,000 A partner invests into a partnership a building with a 80.000 book value and a 90.000 fair value. As a result of the investment. the partner's capital account will be credited for Question 29 l 10 Points Faisal and Ahmed decide to organize a partnership. Faisal invests 25,000 cash, equipment having a book value of 10,000 and a fair value of 1 5,000. and accounts payable 5,000, choose the entry to record Faisal investment in the partnership. Cash debit 25,000, Equipment debit 15,000, Accounts payable debit 5000 and Faisal, Capital credit 45,000 Cash debit 25,000, Equipment debit 15,000, Accounts payable credit 5000 and Faisal, Capital credit 35,000 Cash debit 25,000, Equipment debit 15,000, and Faisal, Capital credit 40,000 Cash debit 25,000, Equipment debit 10,000, Accounts payable credit 5000 and Faisal, Capital credit 30,000 Question 30 Useful life is expressed in terms of time. units of activity. or units of output expected from the asset under the straight-line method. declining-balance method. 6:) none of these answer choices are correct. units-of-activity method
