: For the remaining questions, please consider the following cash transactions that happened in the company Becker GmbH in 2015 (amounts in €000): · Collections from customers: 500 · Purchase of equipment: 40 · Payment of dividends: 30 · Payment of taxes: 20 · Proceeds from sale of equipment: 20 View
: Downton Smith Ltd. purchased a piece of machinery on Jan 1st 2013 for €400,000. The company estimated a useful life of 10 years and a residual value of zero for this asset. On December 31st 2015, the company decided to sell the machinery for €350,000. View
: For the commercial company XYZ in year x2 we know that: (1) gross profit = €50,000; (2) Change in inventories is €30,000; and (3) Purchases of inventory = €180,000. Which of the following statements is correct? View
: Understanding the difference between cash and profit (questions 4 – 5): The ABC Company recognizes credit sales of €100,000. The cost of the goods sold is €60,000. Answer the following two questions: What is the effect of the transaction described above on the cash account? View
