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Additional Information a. A $30,000 notes payable is retired at its $30,000 carrying (book)...

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Accounting

Additional Information
a. A $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash.
b. The only changes affecting retained earnings are net income and cash dividends paid.
c. New equipment is acquired for $72,600 cash.
d. Received cash for the sale of equipment that had cost $63,600, yielding a $3,500 gain.
e. Prepaid Expenses and Wages Payable relate to Operating Expenses on the income statement.
f. All purchases and sales of inventory are on credit.
3.12
points
\table[[eBook],[Hint],[Print],[References]]
Exercise 12-12(Algo) Part 2
(2) Compute the company's cash flow on total assets ratio for its fiscal year 2021.
\table[[Cash Flow on Total Assets Ratio],[Choose Numerator:,1,Choose Denominator:,=,Cash Flow on Total Assets Ratio],[Operating cash flows,1,Average total assets,=,Cash flow on total assets ratio],[,1,vdots,,]]
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