Evil Pop Co. began the year with net fixed assets of $17,708 and had $19,121 in...

Evil Pop Co. began the year with net fixed assets of $17,708 and had $19,121 in the account at the end of the year. During the year, the company paid $4,438 in interest and expensed $3,940 in depreciation. The company purchased $9,380 in fixed assets during the year. How much in fixed assets did the company sell during the year?

Please explain how you got it and not just the answer. I need help with the concept. Taking an online class and have no guidance at all. Thank you

Expert Solution

jeff jeffy answered 2 years ago

Pop Evil, Inc.'s, net income for the most recent year was $10,131. The tax rate was...

Pop Evil, Inc.'s, net income for the most recent year was $10,131. The tax rate was 24 percent. The firm paid $3,490 in total interest expense and deducted $2,101 in depreciation expense. What was the cash coverage ratio for the year?

Teddy's Mattress had beginning net fixed assets of $812 and ending net fixed assets of $1,243. Depreciation was $79

Teddy's Mattress had beginning net fixed assets of $812 and ending net fixed assets of $1,243. Depreciation was $79. What is the amount of net capital spending? Group of answer choices$352$740-$352$510

The balance sheet of MT Co. shows current assets of $14,000, net fixed assets of $21,800,...

The balance sheet of MT Co. shows current assets of $14,000, net fixed assets of $21,800, current liabilities of $4,300, long-term debt of $2,600, and equity of $28,900. The balance sheet of LF Inc. has current assets of $4,700, net fixed assets of $8,100, current liabilities of $2,200, long-term debt of $1,200, and equity of $9,400. The market value of LF's fixed assets is $14,100. MT purchases LF for $20,000 and raises the funds through an issue of long-term debt....

Western Gas & Electric Co. (WG&E) had sales of $1,720,000 last year on fixed assets of...

Western Gas & Electric Co. (WG&E) had sales of $1,720,000 last year on fixed assets of $380,000. Given that WG&E’s fixed assets were being used at only 95% of capacity, then the firm’s fixed asset turnover ratio was ___ . How much sales could Western Gas & Electric Co. (WG&E) have supported with its current level of fixed assets? $1,629,473 $1,810,526 $2,172,631 $1,448,421 When you consider that WG&E’s fixed assets were being underused, what should be the firm’s target fixed...

Net capital spending is equal to: ending net fixed assets minus beginning net fixed assets plus...

Net capital spending is equal to: ending net fixed assets minus beginning net fixed assets plus depreciation. ending total assets minus beginning total assets plus depreciation. ending net fixed assets minus beginning net fixed assets minus depreciation. beginning net fixed assets minus ending net fixed assets plus depreciation.

A company had net fixed assets of $7 million on December 31, 2018 and $10 million...

A company had net fixed assets of $7 million on December 31, 2018 and $10 million on December 31, 2019. For 2019, the company’s depreciation expense was $1 million and its cash flow from operations was $7 million. During 2019, the company’s net working capital increased by $500,000 and net capital spending was $4 million. What was the firm’s cash flow from assets?

A four-year project requires an initial investment of $165,000 in fixed assets and $25,000 in net...

A four-year project requires an initial investment of $165,000 in fixed assets and $25,000 in net working capital. The project has annual year-end costs of $14,501 after taxes. The fixed assets belong in a 20% CCA class and will have no salvage value. Any investment in working capital is returned at the end. What is the project's equivalent annual cost if the required return is 14% and the firm's tax rate is 34%

Weber Interstate Paving Co. had $450 million of sales and $225 million of fixed assets last...

Weber Interstate Paving Co. had $450 million of sales and $225 million of fixed assets last year, so its FA/Sales ratio was 50%. However, its fixed assets were used at only 60% of capacity. If the company had been able to sell off enough of its fixed assets at book value so that it was operating at full capacity, with sales held constant at $450 million, how much cash (in millions) would it have generated? Select the correct answer. a....

carter constructiob had net income of 350,000. They began the year with 25,000 common shares issued...

carter constructiob had net income of 350,000. They began the year with 25,000 common shares issued and outstanding. On June 30, they issued 10,000 additional shares. There were no other transactions affecting common stock. The average market price of the common stock during the year was $30/share. The market price of the common stock at the end of the year was $34/share. The company's marginal tax rate is 20%. The following information pertains to securities issued by the company. Each...

A project will require $450,000 for fixed assets and $58,000 for net working capital. The fixed...

A project will require $450,000 for fixed assets and $58,000 for net working capital. The fixed assets will be depreciated straight-line to a zero book value over the five-year life of the project. At the end of the project, the fixed assets will be worthless. The net working capital returns to its original level at the end of the project. The project is expected to generate annual sales of $875,000 and costs of $640,000. The tax rate is 20 percent...

Question