Prblm PROBLEM:Consecutive balance sheets of Cow Ltd showed the following balances:30 June 2021 30 June 2020Land$850,000Asset revaluation surplus $150,000$500,000During the year ended 30 June 2021, the land was revalued upwards by $150,000,and $120,000 was borrowed to acquire land.What was the value of land purchased for cash?

Explanation of Land Account: The land account in a company's balance sheet represents the cost of…

Answered: PROBLEM: Consecutive balance sheets of…

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 12P

See similar textbooks

Similar questions

PROBLEM: Consecutive balance sheets of Cow Ltd showed the following balances: 30 June 2021 30 June 2020 Land $850,000 Asset revaluation surplus $150,000 $500,000 During the year ended 30 June 2021, the land was revalued upwards by $150,000, and $120,000 was borrowed to acquire land. What was the value of land purchased for cash?
Accurate answer
General Accounting
1 Chapter : Cash Flow Preparation
What is National Co.’s free cash flow for 2022?
I need the answer as soon as possible
The information regarding the fixed assets of Broadwing Company as of December 31, 2019 is provided below: Expected future cash flows from the fixed assets Carrying value of fixed assets Present value of expected future cash flows from the fixed $80,000 $105,000 $68,000 $90,000 assets Selling price of fixed assets What is the amount of impairment loss under US GAAP? a. $10,000 b. $25,000 c. $23,000 d. $15,000
Additional information: • Depreciation expense is $ 13,300. • Dividends declared and paid in cash of $ 20,000. • In 2020, the equipment will sell for $ 9,700 in cash (the amount sold equipment equals the book value of the equipment). QUESTIONS a. Prepare a 2020 cash flow statement for trading company "MARS" with using the indirect method b. Based on the answer in point a, calculate free cash flow trading company "MARS". Provide an interpretation of the cash flow calculation results.
: Answers the days of Working capital based on the information below: 2020 2021 Profit of the year $126,000 $175,000 Depreciation/Amortization 25,000 35,000 Trade receivables 260,000 285,000 Inventories 350,000 390,000 Trade and other payables 290,000 310,000 Revenue 1,800,000 2,100,000
Account
what would the free cash flow be?
REQUIRED Study the statement of cash flows of Mantis Limited for the year ended 31 December 2021 and answer the following questions: Calculate the following for the year ended 31 December 2021: Depreciation Dividends paid Of what significance is this statement of cash flows to the shareholders of Mantis Limited? Comment on the following: Cash flows from operating activities (R181 800) 1.3.2. Increase in inventory (R808 000) Increase in receivables (R606 000) Interest paid (R80 800) Cash flows from investing activities (R2 343 200) INFORMATION MANTIS LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 R Cash flows from operating activities (181 800) Operating profit 979 700 Depreciation ? Profit before working capital changes ? Working capital changes (808 000) Increase in inventory (808 000) Increase in receivables…

SEE MORE QUESTIONS

Recommended textbooks for you

Fundamentals Of Financial Management, Concise Edi…

Finance

ISBN:

9781337902571

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning