Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Swifty Company at the end of 2022 are shown here. Equipment Beg. bal. 80,500 Disposals

image text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribed
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Swifty Company at the end of 2022 are shown here. Equipment Beg. bal. 80,500 Disposals 23,500 Acquisitions 44,600 End. bal. 101,600 Accumulated Depreciation-Equipment Disposals 5,800 Beg. bal. 41,300 Depr. exp. 12,200 End. bal. 47,700 In addition, Swifty's income statement reported a loss on the disposal of plant assets of $3,200. What amount was reported on the statement of cash flows as "cash flow from sale of equipment"? (Show amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash flow from sale of equipment $Vaughn Corporation reports operating expenses of $95,100 excluding depreciation expense of $15,700, for 2022. During the year, prepaid expenses decreased $6,700 and accrued expenses payable increased $4,900. Compute the cash payments for operating expenses in 2022. Cash payments for operating expenses $ Save for Later Attempts: 0 of 1 used Marigold's Organic Produce Market had the following transactions during 2022: 1. Issued $51000 of common stock at par for cash. 2. Repaid a 6 year note payable in the amount of $21200. 3. Acquired land by issuing common stock at par for $98000. 4. Declared and paid a cash dividend of $2100. 5. Sold a long-term investment (cost $2500) for cash of $8200. 6. Acquired an investment in IBM stock for cash of $15300. What is the net cash provided (used) by investing activities? 0 $15300 O $34400 0 ($7100) 0 $8200 Save for Later Attempts: 0 of 1 used

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Inquiry into Physics

Authors: Vern J. Ostdiek, Donald J. Bord

8th edition

1305959426, 9781337515863 , 978-1305959422

Students also viewed these Accounting questions