Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exigent, Inc. repurchases 6,000 shares of $1 par value common stock at $15 per share. a. What is the cash flow amount resulting from this

Exigent, Inc. repurchases 6,000 shares of $1 par value common stock at $15 per share. a. What is the cash flow amount resulting from this share repurchase? (Note: inflows are positive and outflows are negative). $ 90000 b. What is the classification of the cash flow for this transaction? Enter O, I, or F. Lockspot Inc. purchased a machine for $135,000 on January 1, 2008. The estimated useful life was 10 years and the salvage value was $5,000. On January 1, 2016, Lockspot sells the machine, reporting a gain of $3,000. 1. What is the book value of the machine on the date of sale? $ 31000 2. What is the cash flow amount resulting from the sale? (Note: inflows are positive and outflows are negative) $ 34000 3. What is the classification of the cash flow for this transaction? Enter O, I, or F.||

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

Step: 3

blur-text-image

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

Powerpoint Notes For Use With Managerial Accounting

Authors: Ronald W Hilton

6th Edition

0072866268, 978-0072866261

More Books

Students also viewed these Accounting questions

Question

At what point would a contingent liability become a provision?

Answered: 1 week ago

Question

Answered: 1 week ago

Answered: 1 week ago