Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card
22nd Edition
ISBN: 9781259542169
Author: John J Wild
Publisher: McGraw-Hill Education
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Chapter 16, Problem 9QS
Requirement 1

To determine

Cash received from sale of its common stock during 2015

Requirement 2

To determine

To compute:

Cash paid for dividends during 2015.

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On 2015/1/1, Samantha Ltd. purchased machinery for $60,000. The useful life is 8 years with a salvage value of $6,000. The company uses the double declining balance method. What is the second year's annual depreciation expense (2016/12/31)?
Brenda Confections is preparing its cash budget and expects to have sales of $50,000 in April, $65,000 in May, and $75,000 in June. If 30% of sales are for cash, 50% are credit sales paid in the month after the sale, and 20% are credit sales paid 2 months after the sale, what are the expected cash receipts for June?

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Loose Leaf for Fundamentals of Accounting Principles and Connect Access Card

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