SuenaNAZ
May 31, 2008, 01:32 PM
We have several students puzzled by this example: please help to find the answer?
Of these items which would effect the operating activities section of a net cash report
Cash dividends of $600,000 were declared and paid in 2008
Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2008 for $360,000
Long term investment sold in 2008 $320,000, no other activities made within the year
20,000 shares of common stock were issued in 2008 for $25 a share
Short-term investments consist of treasury bills maturing on 6/30/09
Net income was given for 2008 at $1,500,000
Answer would be a) 1,500,000 b) 2,120,000 c) 2,080,000 or d) 2,160,000
Any help would be greatly appreciated
Of these items which would effect the operating activities section of a net cash report
Cash dividends of $600,000 were declared and paid in 2008
Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2008 for $360,000
Long term investment sold in 2008 $320,000, no other activities made within the year
20,000 shares of common stock were issued in 2008 for $25 a share
Short-term investments consist of treasury bills maturing on 6/30/09
Net income was given for 2008 at $1,500,000
Answer would be a) 1,500,000 b) 2,120,000 c) 2,080,000 or d) 2,160,000
Any help would be greatly appreciated