MC Qu. 168 Alvez reports net income... Alvez reports net income of $352,500 for the...
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Accounting
MC Qu. 168 Alvez reports net income...
Alvez reports net income of $352,500 for the year ended December 31. It also reports $118,400 depreciation expense and a $12,850 loss on the sale of equipment. Its comparative balance sheet reveals a $51,600 increase in accounts receivable, a $13,050 decrease in prepaid expenses, a $19,950 increase in accounts payable, a $16,300 decrease in wages payable, a $95,900 increase in equipment, and a $128,500 decrease in notes payable. Calculate the net increase in cash for the year.
Multiple Choice
$224,450.
$448,850.
$237,300.
$352,950.
$320,350.
MC Qu. 165 Bagwells net income for the year...
Bagwell's net income for the year ended December 31, Year 2 was $201,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2.
At December 31
Year 2
Year 1
Common Stock, $5 par value
$
516,000
$
464,400
Paid-in capital in excess of par
964,000
867,400
Retained earnings
704,000
596,400
Multiple Choice
$93,400.
$51,600.
$107,600.
$148,200.
$96,600.
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