Homework Answers
| Ans. | Option D | ||
| *Calculations for Investing activities: | |||
| Particulars | Amount | ||
| Purchase of machinery | $195,000 | ||
| Total cash outflows for Investing Activities | $195,000 | ||
| *Calculations for Financing activities: | |||
| Particulars | Amount | ||
| Payment of cash dividends to shareholder's | $75,000 | ||
| Payment on mortgage payable | $200,000 | ||
| Total cash outflows for Financing Activities | $275,000 | ||
| *Purchase of fixed assets and investments are the cash outflow transaction of Investing Activity. | |||
| *Repayment of bank loan, mortgage payable and dividends paid to stockholder's are the cash | |||
| outflow transaction of Financing Activity. | |||
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Does anyone know how to fix these mistakes?
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Does anyone know how to fix these mistakes?
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Additional data obtained from the income statement and from an
examination of the accounts in the ledger for 20Y8 are as
follows:
A. Net income, $190,000.
B. Depreciation reported on the income statement, $115,000.
C. Equipment was purchased at a cost of $395,000 and fully
depreciated equipment costing $75,000 was discarded, with no
salvage realized.
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