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ABC Inc.'s cash balance at December 31, 2019, the end of its financial reporting year,...

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Accounting

ABC Inc.'s cash balance at December 31, 2019, the end of its financial reporting year, was$150,000. During 2019, cash provided by operations was $135,000, cash used in investing activities was $57,000, and cash provided by financing activities was $10,000. The amount ofABC's beginning cash balance at January 1, 2019.


6.ABC Company purchased equipment for $27,500. It depreciated the equipment over a five year life by the double-declining-balance. The Accumulated depreciation is 17600, at which time the asset was sold for $8000. Calculate the gain or loss on the sale at the end of the second year.


7.ABC, Inc., sells Rs.100 ,000 general obligation bonds for 98. The interest rate on the bonds, paid quarterly, is 6 percent. Calculate the amount of total annual cash interest that the company will be required to pay.

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