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Linda_us
Linda_us, Finance, Accounts & Homework Tutor
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Experience:  Post Graduate Diploma in Management (MBA)
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Balance sheet Assets:

Resolved Question:

Balance sheet
Assets:
(2005) (2004)
Cash $39,000 $31,000
Accounts receivable (net) $80,000 $60,000
Prepaid insurance $22,000 $17,000
Land $18,000 $40,000
Equipment $70,000 $60,000
Accum.deprec. ($30,000) ($23,000)
Total assets: $199,000 $185,000

Liabilities and SE:
Acc.payable $11,000 $6,000
Bonds Payable $27,000 $19,000
Common Stock $140,000 $115,000
Retain Earnings $21,000 $45,000
Total liabilities and Stockholders' Eq. $199,000 $185,000

Additional information:
a. net loss for 2005 is $20,000
b.Land was sold for cash at a loss of $10,000.This was only transaction during the year.
c. Equipment was sold for $5,000 cash. The equipment cost $15,000 and had accumulated depreciation of $11,000
d.Equipment was acquired for common stock. the fair market value of the stock at the time of the exchange was $25,000

For the Year 2005:
1. what is depreciation expense?
2. what is the amount of dividends paid ?
3. Cash provided from operating activities?
4. cash provided from investing activities?
5.Cash provided from financing activities?
6.the sale of equipment resulted in a
a) gain
b)loss
c)neither a gain or loss
d) none of the above
7.refer to the previous question. What is the amount of the gain or loss
Submitted: 11 months ago.
Category: Homework
Expert:  Linda_us replied 11 months ago.
Welcome and Thanks for asking your questions.

I can help you with these questions. Please let me know your deadline.
Customer: replied 11 months ago.

hi. thank you for the help. the deadline is Monday, Aug.12th, 12p.m.

Expert:  Linda_us replied 11 months ago.
I am working on it and should be able to post the solution tonight itself.
Customer: replied 11 months ago.

ok.thank you.


will it come automatically on my email?

Expert:  Linda_us replied 11 months ago.
You will get an email once and post the solution. Then you can come back on the site to view the solution. Once you are satisfied you need to rate the solution.
Expert:  Linda_us replied 11 months ago.
THIS ANSWER IS LOCKED!
You can view this answer by clicking here to Register or Login and paying $3.
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Linda_us, Finance, Accounts & Homework Tutor
Category: Homework
Satisfied Customers: 6997
Experience: Post Graduate Diploma in Management (MBA)
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