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The Viper retires a $50.6 million bond issue when the carrying value of the bonds is $53.1 million, but the market value of the bonds
The Viper retires a $50.6 million bond issue when the carrying value of the bonds is $53.1 million, but the market value of the bonds is $46.2 million. The entry to record the retirement will include: Multiple Choice A credit of $6.9 million to a gain account. A credit to cash for $53.1 million. No gain or loss on retirement. A debit of $6.9 million to a loss account. Mary's Music Store reported net income of $146,000. Beginning balances in Accounts Receivable and Accounts Payable were $27,500 and $18,500, respectively. Ending balances in these accounts were $33,500 and $12,400, respectively. Assuming that all relevant information has been presented, Mary's net cash flows from operating activities would be: Multiple Choice $158,100. $133,900. O O $145,900. O $146,100. Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 160,000 shares of $6 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 16,000 shares of common stock at $8 per share. Issued 32,000 shares of common stock at $9 per share. Reported a net income of $160,000. Paid dividends of $80,000. Purchased 4,000 shares of treasury stock at $11 (part of the 32,000 shares issued at $9). What is total stockholders' equity at the end of 2021? Multiple Choice $868.000 $1,028,000. $484,000. $452,000. A company purchased a computer that cost $10,000. It had an estimated useful life of five years and no residual value. The computer was depreciated by the straight-line method and was sold at the end of the second year of use for $5,000 cash. The company should record: Multiple Choice neither a gain nor loss-the gain that occurred in this case would not be recognized. neither a gain nor a lossthe computer was sold at its book value. (0) a loss of $1,000 O a gain of $1,000 Kela Corporation reports net income of $480,000 that includes depreciation expense of $79,000. Also, cash of $41,000 was borrowed on a 5-year note payable. Based on this data, total cash inflows from operating activities are: Multiple Choice $559,000 O $600,000 O $521,000. $401,000
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