Compute the following items for the statement of cash flows: a. Beginning and ending Plant Assets, Net,
Question:
a. Beginning and ending Plant Assets, Net, are $99,000 and $92,000, respectively. Depreciation for the period was $11,000, and purchases of new plant assets were $23,000. Plant assets were sold at a $7,000 gain. What were the cash proceeds of the sale?
b. Beginning and ending Retained Earnings are $37,000 and $74,000, respectively. Net income for the period was $61,000, and stock dividends were $14,000. How much were cash dividends?
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a Cash proceeds of sale Book value of asset sold 19000 Gain on sale 7000 26000 99000 23000 11000 B...View the full answer
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Related Book For 
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
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