Exam done by accounting expert4u
reneegg1990The equipment was purchased for 27,000, freight charges to $1,000 and there was a cost of 5,000 for building a foundation and installing the equipment. it is estimated that the equipment will have a 5,000 salvage value at the end of its 7 year useful life. depreciation expense each year using straight line method will be?
4,714 - 4,000 - 3,875 - 3,285
a company has preferred stock, 8%, 10 par, 30,000 shared authorized and issued. the balance in the preferred stock account is 300,000. this means that
Account receivables arising from sales to customers amounted to 50,000 and 45,000 at the beginning and end of the year. respectively. income reported on the income statement for the year was 150,000. based on these transactions, the cash flows from operating activities to be reported on the statement of cash flow would be___________
a company has preferred stock, 8%, 10 par, 30,000 shared authorized and issued. the balance in the preferred stock account is 300,000. this means that
-preferred stock receive dividends before the common stockholders
-dividends on preferred stock are always paid even if the board of directors does not declare the dividend
-preferred stock provides voting rights
-all corporations issue preferred stock
Question
Cash 15,000
prepaid rent 1,000
account receivables 3,500
account payable 3000
notes payable 6,000
common stock 100,000
dividends 1,500
revenue 75,000
expenses 45,500
what is the total credits?
11 years ago
3
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