A firm sells its headquarters building at a gain. This means that at the time of sale
a. the cash or other assets received were greater than the building's book value.
b. the cash or assets received in a transaction were less than the carrying value of the assets given up.
c. the cash or other assets received were greater than the building' carrying value.
d. the cash or assets received in a transaction were less than the building's book value.
e. Both choices a and c are correct.
E
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________________ is the most common résumé and probably the easiest to prepare.
a. Functional b. Chronological c. Combination d. Online
Tweedle Corporation's most recent balance sheet and income statement appear below:Balance SheetDecember 31, Year 2 and Year 1(in thousands of dollars)AssetsYear 2Year 1Current assets: Cash$140 $130 Accounts receivable, net 200 210 Inventory 150 180 Prepaid expenses 20 20 Total current assets 510 540 Plant and equipment, net 950 910 Total assets$1,460 $1,450 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$130 $150 Accrued liabilities 70 70 Notes payable, short term 70 60 Total current liabilities 270 280 Bonds payable 170 190 Total liabilities 440 470 Stockholders' equity: Common stock, $1 par value 200 200 Additional paid-in
capital 320 320 Retained earnings 500 460 Total stockholders' equity 1,020 980 Total liabilities & stockholders' equity$1,460 $1,450 Income StatementFor the Year Ended December 31, Year 2(in thousands of dollars)Sales (all on account)$1,190 Cost of goods sold 710 Gross margin 480 Selling and administrative expense 226 Net operating income 254 Interest expense 25 Net income before taxes 229 Income taxes (30%) 69 Net income$160 The debt-to-equity ratio at the end of Year 2 is closest to: A. 0.43 B. 0.17 C. 0.24 D. 0.54
Which of the following is/are not true?
a. Revenues from sales of goods or services to customers during a particular period do not necessarily equal cash received from customers during the same period. b. The receipt of cash can precede, coincide with, or follow the recognition of revenue. c. Expenses incurred to generate revenues during a particular period do not necessarily equal cash expended for the goods and services consumed in operations during the same period. d. The expenditure of cash can precede, coincide with, or follow the recognition of expenses. e. The net income for a particular period will likely equal the cash flow from operations for the same period.
Blueprinting is a more sophisticated version of ____________
a. linear graphing b. flowcharting c. Cox & Snell analysis d. non-linear graphing e. cluster analysis