QUESTION 5 Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,090,000. Harding paid $595,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $629,000 : Building, $1,870,000 and Equipment, $1,241,000 . (Round percentages to two decimal places: i.e., .054 = 5%). A. $1,870,000 B. $355,300 EC. $629,000 OD. $1,241,000 QUESTION 6 On January 1, Year 2, Grande Company had a $14,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During Year 2, Grande provided $64,000 of service on account. The company collected $60,500 cash from accounts receivable. Uncollectible accounts are estimated to be 2% of sales on account. What is the amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows? A. $60,500 B. $64,000 C. $59,290 D. $50,280 QUESTION 7 Duke Company's unadjusted bank balance at March 31 is $3740. The bank reconciliation revealed outstanding checks amounting to $560 and deposits in transit of $430. What is the true cash balance? O A. $3310 B. $4170 C. $3610 D. $3740 QUESTION 8 At March 31, Cummins Co. had an unadjusted balance in its cash account of $10,100. At the end of March, the company determined that it had outstanding checks of $1030, deposits in transit of $660, a bank service charge of $30, and an NSF check from a customer for $210. What is the true cash balance at March 31? A. $9860 B. $9730 F. $10,100 D. $9460