question archive Trenton reports tax-exempt profit of $230,000 for the year ended December 31, Year 2
Trenton reports tax-exempt profit of $230,000 for the year ended December 31, Year 2
Subject:BusinessPrice: Bought3
Trenton reports tax-exempt profit of $230,000 for the year ended December 31, Year 2. It also reports $87,700 depreciation expense and a $5,000 gain on the sale of equipment. Its comparative statement of financial position reveals a $35,500 decrease in accounts receivable, a $15,750 increase in accounts payable, and a $12,500 decrease in wages payable. Calculate the new cash from (used in) operating activities using the indirect method. $356,450. $376,450 $263,750. $351,450. $319,950 A company reported that its bonds with a par value of 50000 and a carrying amount of 57000 are retired for 60000 cash resulting in a loss of 3000. The amount to be reported under cash flows from financing activities is: * O (3000). O Zero. This is under investing activities. O Zero. This is under operating activities. O (60000). O (57000) Brown Company's contribution margin ratio is 24%. Total fixed costs are $84,000. What is Brown's break-even point in sales dollars? O $110,526. O $350,000 $84,000. $20,160 $240,000
