User Account

All Pages

The following selected account balances relate to the plant

Assignment Help Accounting Basics
Reference no: EM131145235

The following selected account balances relate to the plant asset accounts of Karas Inc. at year-end.

Additional information:

1. Karas purchased $85,000 of equipment and $30,000 of land for cash in 2012.

2. Karas also sold equipment in 2012.

3. Depreciation expense in 2012 was $37,500 on building and $62,000 on equipment.

Instructions

(a) Determine the amounts of any cash inflows or outflows related to the plant asset accounts in 2012.

(b) Indicate where each of the cash inflows or outflows identified in (a) would be classified on the statement of cash flows.  

Reference no: EM131145235

Questions Cloud

Design program that uses cfswitch and cfcase structure : Your program must use the ColdFusion built-in function RandRange() to generate a random number between the ranges of 1 and 4, and assign this value to a variable called score.
How much is the typical buyer willing to pay for a used car : Suppose that for every 10 new cars sold by new-car dealers, 9 are plums and only 1 is a lemon. Why is the equilibrium mix in the used car market different from the mix of new cars sold?
What is probability of defective output after process shift : Design specifications require that a key dimension on a product measure 100 ± 16 units. A process being considered for producing this product has a standard deviation of six units. What can you say (quantitatively) regarding the process capability? W..
Find the amplitude period and phase shift of ladder : (a) Find the amplitude, period, and phase shift of y = 3sin[π(x – 1/3)] (b) A ladder leans against a verfical wall of a building so that the angle between the ground and the ladder is 72° and its bottom on the ground is at 3m from the wall. How long ..
The following selected account balances relate to the plant : The following selected account balances relate to the plant asset accounts of Karas Inc. at year-end.
Upper control limit : Boxes of Honey-Nut Oatmeal are produced to contain 16.0 ounces, with a standard deviation of 0.20 ounce. For a sample size of 49, the 3-sigma x-bar chart control limits are: Upper Control Limit (UCL x-bar)= ounces (to two decimal places)
In consignment inventory arrangement : In a “consignment” inventory arrangement, the buyer does not pay the supplier for the purchased items until they are sold or used. If the buyer is concerned only about optimizing its own position, how does such an arrangement affect its (the buyer’s)..
Determine the how the present worth would be affected : a. Determine the how the present worth would be affected by prices of $47, $49, $51 and $53 with a quantity sold of 55,000. Briefly state how you determined this.b. Determine the quantity that would need to be sold to attain the MARR (PW = 0) for pri..
What fundamental cost tradeoff plays : What fundamental cost tradeoff plays a key role towards developing an aggregate sales and operations plan? Under what circumstances would cost minimization be equivalent to profit maximization, as the objective in deriving an optimal aggregate plan? ..

Reviews

Write a Review

Accounting Basics Questions & Answers

  In the direct labor variance matrix there are three

in the direct labor variance matrix there are three factors 1 actual hours actual rate 2 actual hours standard rate and

  Charles inc began using dollar-value lifo for costing its

charles inc. began using dollar-value lifo for costing its inventory last year base year.the ending inventory this year

  Steverino inc offers a restricted stock award plan to its

steverino inc. offers a restricted stock award plan to its vice presidents. on january 1 2013 the corporation granted

  What are operating expenses

The cost of the inventory at January 31, under the FIFO method is:

  What does the term net realizable value mean with regard to

what does the term net realizable value mean with regard to the accounts receivable account?a. the gross amounts owed

  Paulsen is considering the acquistion of a 217750 machine

paulsen is considering the acquistion of a 217750 machine that is expected to produce annual savings in cash operating

  At the vicksburg company actual sales are 1200000 and

at the vicksburg company actual sales are 1200000 and break-even sales are 840000. compute a the margin of safety in

  An open box is to be made by cutting a square from each

an open box is to be made by cutting a square from each corner of a 12cm by 12cm piece of metal and then folding up the

  Find the present value of the following scenarios a an

find the present value of the following scenarios a. an annual payment of 1500 over 6 years with an interest rate

  Program revenues-general government-operating grants

General journal for governmental activities at the government-wide level - Program Revenues-General Government-Operating Grants and Contributions

  Setting materials labors and overhead standards is

setting materials labors and overhead standards is challenging. if standards are set too low companions might purchase

  How much gain did big corporation recognize

Big Corporation distributed land to its sole shareholder, Little Corporation, in a liquidating distribution. At the time of the distribution, the land had a fair market value of $240,000 and Big Corporation's adjusted basis in the land was $200,00..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd