Question: Need help on requirement #2 Requirements Compute the following items for the statement of cash flows: The beginning and ending Retained earnings balances are $45,000
Need help on requirement #2 Requirements Compute the following items for the statement of cash flows: The beginning and ending Retained earnings balances are $45,000 and $71,000, respectively. Net income for the period is $77,000 How much are cash dividends? The beginning and ending net Fixed asset balances are $150,000 and $116,000, respectively. Depreciation expense for the period is $15,000 and acquisitions of new fixed asset total $39,000. Fixed assets were sold at a $9,000 loss. What were the cash proceeds of the sale? Select the formula needed to compute this amount and then enter the amounts to calculate the dividends. Requirement 2. The beginning and ending not Fixed assets balances are $105,000 and $116,000 respectively. Depreciation expense for the period is $15,000 and acquisitions of new fixed assets total $39,000 Fixed assets were sold at a $9,000 loss What were the cash proceeds of the sale? Select the formula needed to compute this amount and then enter the amounts to calculate the cash proceeds from the sale
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
