申論題

  Additional information for 2018 :
● Net sales is $200,000 and all sales are credit sales. No accounts receivables are written off during the
year.
● Cost of Golds Sold is $100,000 and all accounts payable are occurred for the purchase of inventory.
● Net income is $(9,000).
● Dividends are cash dividends and were declared and paid in 2018.
● Land was sold for cash at a loss of $7,000. This was the only land transaction during the year.
● Equipment with accumulated depreciation of $10,000 was sold at carrying amount for cash. This was
the only disposition of equipment transaction during the year.
● $12,000 of bonds were retired during the year at $11,000. The other bonds were issued at face value for
cash during the year. These were the only two bonds transaction during the year.
● Equipment was acquired for ordinary shares. The fair value of the shares and the equipment at the time of
the exchange both was $25,000. This was the only acquisition of equipment transaction during the year.
INSTRUCTIONS: Assume the interest payments are classified into operating activities, compute the
following amounts for 2018.