MC Qu. 168 Alvez reports net income...

Alvez reports net income of $352,500 for the year ended December 31. It also reports $118,400 depreciation expense and a $12,850 loss on the sale of equipment. Its comparative balance sheet reveals a $51,600 increase in accounts receivable, a $13,050 decrease in prepaid expenses, a $19,950 increase in accounts payable, a $16,300 decrease in wages payable, a $95,900 increase in equipment, and a $128,500 decrease in notes payable. Calculate the net increase in cash for the year.

Multiple Choice

$224,450.

$448,850.

$237,300.

$352,950.

$320,350.

MC Qu. 165 Bagwells net income for the year...

Bagwell's net income for the year ended December 31, Year 2 was $201,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2.

At December 31	Year 2			Year 1
Common Stock, $5 par value	$	516,000		$	464,400
Paid-in capital in excess of par		964,000			867,400
Retained earnings		704,000			596,400
Multiple Choice $93,400. $51,600. $107,600. $148,200. $96,600.