Question list

Question $1$

Question $2$

Motorvehicles of Boston, Inc.

Income Statement

Year Ended December $31,2021$

$\backslash$table$[[($In thousands$),,],[$Service revenue,$$,770],[$Cost of goods sold,,$380],[$Salary expense,,$60],[$Depreciation expense,,$55],[$Other expenses,,$150],[$Total expenses,,$645],[$Net income,$$,125]]$

Motorvehicles of Boston, Inc., reported the following financial statements for $2021$:

a$.$ Calculate the new borrowing or payment of long$-$term notes payable. Motorvehicles of Boston had only

The $$ of long$-$term notes payable, in thousands, is $$

$$

Data table

Requirement

Calculate the following; enter all amounts in thousands.

a$.$ New borrowing or payment of long$-$term notes payable. Motorvehicles of Boston had only one long$-$term note payable transaction during the year.

b$.$ Issuance of common stock or retirement of common stock.

Motorvehicles of Boston had only one common stock transaction during the year.

c$.$ Payment of cash dividends $($same as dividends declared$)$

ble

$\backslash$table$[[\backslash$table$[[$Motorvehicles of Boston, Inc.$],[$Income Statement$],[$Year Ended December $31,2021]]],[($In thousands$),,],[$Service revenue,$$,770],[$Cost of goods sold,,$380],[$Salary expense,,$60],[$Depreciation expense,,$55],[$Other expenses,,$150],[$Total expenses,,$645],[$Net income,$$,125]]$