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

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Balance sheet
(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
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
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Customer: replied 3 years ago.

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

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Customer: replied 3 years ago.

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