Suppose Prince Rupert Fly ‘n’ Fish Inc. decides to sell its first aircraft for $50,000 in year 2 (purchased for $70,000 in year 1). As before, the second plane costs $90,000 and is bought and put in service in year 2. Find the UCC at the end of year 3.
Answer to relevant QuestionsTina’s Business Inc. bought machines some time ago for $30,000. She decided to sell all the assets from this pool at the end of this year. The pool of assets had a UCC of $5,000 before the sale, and the whole asset class ...The balance sheet for a small firm shows total assets of $429,500 and total liabilities of $379,000. What is the shareholders’ equity?The balance sheet for a small corporation shows total assets of $425,600, common equity of $125,000, and retained earnings of $85,000. Calculate the total liabilities.We can calculate cash flow from operations (CFO) as net income + non-cash expenses + change in working capital. In year 2, the change in working capital for Finns’ Fridges was −$25. Find the CFO and use this figure to ...The shares of Corine’s Candies Inc. are currently trading at $18.20. There are four million shares outstanding. The company’s 2012 net income was $5.2 million. Find the market value of equity for the company and the P/E ...
Post your question