Question
The Lucido Companys 2026 Net Income is $170. Balance Sheets are given: 12/31/25 12/31/26 Cash $40 $35 Accounts Receivable 100 88 Machine 400 540 Acc
The Lucido Companys 2026 Net Income is $170. Balance Sheets are given:
|
|
| 12/31/25 |
| 12/31/26 |
| Cash |
| $40 |
| $35 |
| Accounts Receivable |
| 100 |
| 88 |
| Machine | 400 |
| 540 |
|
| Acc Depr. | 150 | 250 | -160 | 380 |
| Totals Assets |
| $390 |
| $503 |
|
|
|
|
|
|
| Dividends Payable |
| $2 |
| $0 |
| Common Stock |
| 310 |
| 348 |
| Treasury Stock |
| (22) |
| (30) |
| Retained Earnings |
| 100 |
| 185 |
| Total Liability and O/E |
| $390 |
| $503 |
Lucido sold a machine for $122 in 2026. Cost was $200; book value was $120.
Net Cash Used for Investing is:
Select one:
a. $218
b. $340
c. $122
d. $220
e. $462
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Accounting and Auditing Research Tools and Strategies
Authors: Thomas Weirich, Thomas Pearson, Natalie Tatiana
9th edition
1119441915, 1119441919, 978-1-119-3737, 9781119373629 , 978-1119441915
