1) Net cash provided by operating activities takes into account that a company m
ID: 2373025 • Letter: 1
Question
1) Net cash provided by operating activities takes into account that a company must invest in capital expenditures just to maintain its current level of operations. True or False 2) These are selected account balances on December 31, 2014. Land $100,000 Land (held for future use) 150,000 Buildings 800,000 Inventory 200,000 Equipment 450,000 Furniture 100,000 Accumulated Depreciation 300,000 What is the total amount of property, plant, and equipment that will appear on the balance sheet? a $1,500,000 b $1,300,000 c $1,800,000 d $1,150,000 3) Elston Company compiled the following financial information as of December 31, 2014: Service revenue $700,000 Common stock 150,000 Equipment 200,000 Operating expenses 625,000 Cash 175,000 Dividends 50,000 Supplies 25,000 Accounts payable 100,000 Accounts receivable 75,000 Retained earnings, 1/1/14 375,000 ElstonExplanation / Answer
1)
False
2)
d)$1,500,000
3)
b $550,000
4
b $410,000
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