Question

Consider the following facts for health haven?

Requirements
1. How much are cash​ dividends?
2. What was the amount of the cash receipt from the sale of plant​ assets?
Requirement 1. How much are cash​ dividends?
Cash dividends are $______.
Requirement 2. What was the amount of the cash receipt from the sale of plant assets?
The cash receipt from the sale plant assets is $:_________.

Answer 1

attached below is the missing part of the question

$17000

Step-by-step explanation:

1) calculate the cash dividends

= beginning earnings + net income for the period - ending retained earnings

= $44000 + $57000 - $68000 = $33000

2 ) calculate the amount of cash receipt from the sale of plant assets

first we will calculate the dep on sale of plant products

= beginning accumulated depreciation + depreciation expense - ending accumulated depreciation

= 22500 + 12000 - 24500 = $10000

next we calculate the cost of sale of plant assets

= beginning plant asset + acquisition new plant assets - ending plant asset

= $123500 + $29000 - $131500 = $21000

Hence the cash receipt from the sale plant assets = cost of sale of plant assets - dep on sale of plant products + gain on the sale of plant assets

= 21000 - 10000 + 6000 = $17000