Question

Evil Pop Co. began the year with net fixed assets of $17,528 and had $18,869 in...

Evil Pop Co. began the year with net fixed assets of $17,528 and had $18,869 in the account at the end of the year. During the year, the company paid $4,342 in interest and expensed $3,840 in depreciation. The company purchased $8,940 in fixed assets during the year. How much in fixed assets did the company sell during the year?

Multiple Choice

  • $5,939

  • $3,759

  • $4,181

  • $9,553

  • $839

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Opening Fixed assets $                17,528
Add: Purchase of new assets $                  8,940
Less: Depreciation $                 (3,840)
Less: Closing fixed assets $               (18,869)
Book value of assets sold $                  3,759
So option B is the right answer.
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Teddy's Pillows had beginning net fixed assets of $464 and ending net fixed assets of $536....
Teddy's Pillows had beginning net fixed assets of $464 and ending net fixed assets of $536. Assets valued at $312 were sold during the year. Depreciation was $28. What is the amount of net capital spending? $252 $72 $100 $44 $412
Red Barchetta Co. paid $27,635 in dividends and $28,500 in interest over the past year. During...
Red Barchetta Co. paid $27,635 in dividends and $28,500 in interest over the past year. During the year, net working capital increased from $13,578 to $18,294. The company purchased $42,330 in fixed assets and had a depreciation expense of $16,940. During the year, the company issued $25,075 in new equity and paid off $21,105 in long-term debt. What was the company's cash flow from assets?
Red Barchetta Co. paid $28,265 in dividends and $29,382 in interest over the past year. During...
Red Barchetta Co. paid $28,265 in dividends and $29,382 in interest over the past year. During the year, net working capital increased from $13,914 to $18,644. The company purchased $43,870 in fixed assets and had a depreciation expense of $17,570. During the year, the company issued $25,425 in new equity and paid off $21,595 in long-term debt. What was the company's cash flow from assets?
Weber Interstate Paving Co. had $450 million of sales and $225 million of fixed assets last...
Weber Interstate Paving Co. had $450 million of sales and $225 million of fixed assets last year, so its FA/Sales ratio was 50%. However, its fixed assets were used at only 90% of capacity. If the company had been able to sell off enough of its fixed assets at book value so that it was operating at full capacity, with sales held constant at $450 million, how much cash (in millions) would it have generated? Select the correct answer. a....
Nanniner Corp. paid $27,995 in dividends and $29,004 in interest over the past year. During the...
Nanniner Corp. paid $27,995 in dividends and $29,004 in interest over the past year. During the year, net working capital increased from $13,770 to $18,494. The company purchased $43,210 in fixed assets and had a depreciation expense of $17,300. During the year, the company issued $25,275 in new equity and paid off $21,385 in long-term debt. What was the company's cash flow from assets? Multiple Choice $53,109 $52,130 $53,506 $54,457 $46,489
At the beginning of the current year, Snell Co. total assets were $274,000 and its total...
At the beginning of the current year, Snell Co. total assets were $274,000 and its total liabilities were $187,200. During the year, the company reported total revenues of $119,000, total expenses of $89,000 and dividends of $18,000. There were no other changes in equity during the year and total assets at the end of the year were $286,000. The company's debt ratio at the end of the current year is: Multiple Choice 52.8%. 68.3%. 146.00%. 65.5%. 34.5%.
National Importers had a beginning balance of net fixed assets of $100,000 and an ending balance...
National Importers had a beginning balance of net fixed assets of $100,000 and an ending balance of net fixed assets of $138,700. Depreciation expense for the year was $14,784. Net working capital increased during the year from $15,506 to $17,411. During the year, the firm issued $20,000 in net new equity and paid off $23,800 in long-term debt (this means long-term debt decreased). The firm paid $38,600 in dividends and $24,615 in interest over the past year. For the year,...
For the just completed year, Hanna Company had net income of $65,000. Balances in the company’s...
For the just completed year, Hanna Company had net income of $65,000. Balances in the company’s current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Year Beginning of Year Current assets: Cash and cash equivalents $ 56,000 $ 77,000 Accounts receivable $ 162,000 $ 184,000 Inventory $ 436,000 $ 361,000 Prepaid expenses $ 12,000 $ 14,500 Current liabilities: Accounts payable $ 362,000 $ 388,000 Accrued liabilities $ 8,000...
At the beginning of January of the current year, Sorrel Co.’s ledger reflected a normal balance...
At the beginning of January of the current year, Sorrel Co.’s ledger reflected a normal balance of $52,000 for accounts receivable. During January, the company collected $14,800 from customers on account and provided additional services to customers on account totaling $12,500. Additionally, during January one customer paid Mikey $5,000 for services to be provided in the future. At the end of January, the balance in the accounts receivable account should be: Multiple Choice $49,300. $54,300. $49,700. $2,300. $54,700.
For the just completed year, Hanna Company had net income of $53,000. Balances in the company’s...
For the just completed year, Hanna Company had net income of $53,000. Balances in the company’s current asset and current liability accounts at the beginning and end of the year were as follows: December 31 End of Year Beginning of Year   Current assets:      Cash $ 62,000 $ 78,000           Accounts receivable $ 162,000 $ 196,000           Inventory $ 433,000 $ 352,000           Prepaid expenses $ 11,500 $ 14,000        Current liabilities:      Accounts payable $ 366,000 $ 388,000           Accrued liabilities...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT