Motorvehicles of Philadelphia, Inc., reported the following financial statements for 2012: Compute the following investing cash flows:
Question:
Compute the following investing cash flows: (Enter all amounts in thousands.)
a. Acquisitions of plant assets (all were for cash). Motorvehicles of Philadelphia sold no plant assets.
b. Proceeds from the sale of investments. Motorvehicles of Philadelphia purchased noinvestments.
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Motorvehicles of Philadelphia, Inc. Income Statement Year Ended December 31, 2012 (In thousands) Service revenue Cost of goods sold Salary expense Depreciation expense Other expenses Total expenses Net income S720 350 60 10 180 600 S120 Motorvehicles of Philadelphia, Inc. Comparative Balance Sheets December 31, 2012 and 2011 (In thousands) Assets Current: 2012 20 Liabilities 2012 2011 Current S 26 Cash Accounts receivable Inventory Prepaid expenses 12 48 87 Accounts payable51S 48 Salary payable Accrued liabilities 56 72 24 13 63 16 6 Long-term notes payable 75 180 Stockholders' Equity 57 Long-term investments Plant assets, net 52 Common stock Retained earnings 47 237 $435 36 229 Total S435 S 408 Total
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a Acquisitions of plant assets 52000 as follows Plant Assets net Be...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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