ACC 421 Course Great Wisdom / tutorialrank.com ACC 421 Course Great Wisdom / tutorialrank.com | Page 8

Question 23
Ames Company reported 2012 net income of $159,290. During 2012,
accounts receivable increased by $15,630 and accounts payable
increased by $9,930.
Question 24
Martinez Corporation engaged in the following cash transactions
during 2012.
Sale of land and building $191,970
Purchase of treasury stock 45,020
Question 25
Martinez Corporation engaged in the following cash transactions
during 2012.
Sale of land and building $184,990
Purchase of treasury stock 42,320
Purchase of land 46,050
Question 26
A comparative balance sheet for Orozco Corporation is presented
below.
Question 27
Chris Spear invested $11,999 today in a fund that earns 12%
compounded annually. To what amount will the investment grow in 3
years? To what amount would the