FIN 370 Course Great Wisdom / tutorialrank.com FIN 370 Course Great Wisdom / tutorialrank.com | Page 23
Which one of the following is the financial statement that summarizes a firm’ s revenue and expenses over a period of time?
Statement of cash flows
Market value report
Tax reconciliation statement
Balance sheet
Income statement
Kelly’ s Corner Bakery purchased a lot in Oil City six years ago at a cost of $ 278000. Today, that lot has a market value of $ 264,000. At the time of the purchase, the company spent $ 6,000 to level the lot and another $ 8,000 to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $ 1.03 million. What amount should be used as the initial cash flow for this project?
Which one of the following is the financial statement that summarizes a firm’ s revenue and expenses over a period of time?
Statement of cash flows
Market value report
Tax reconciliation statement
Balance sheet
Income statement
Kelly’ s Corner Bakery purchased a lot in Oil City six years ago at a cost of $ 278000. Today, that lot has a market value of $ 264,000. At the time of the purchase, the company spent $ 6,000 to level the lot and another $ 8,000 to install storm drains. The company now wants to build a new facility on that site. The building cost is estimated at $ 1.03 million. What amount should be used as the initial cash flow for this project?