Selected data from the financial statements for the years ended December 31, Year 2 and Year 1, are presented below:
The following additional information was obtained from the company's records:
1. Cash addituns to property, plant, and equpment during Year 2 were $2,300. An additional \$250 of plant assets were acquired through debt in anoncash transaction. Depreciation expense for Year 2 was $400. Gains an disposals of property, plant and equipment during Year 2 were $40.
2. The cash proceeds from the sale of investments in Year 2 were . There was a gain an the sale of the investments.
3. Praceeds fram lang-term debt issued during Year 2 were .
4. The issuance of common shares totalled in Year 2.
-Refer to Maritime Marine Services.What was the amount paid to retire long-term debt during Year 2?
Correct Answer:
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$1,200 (Long-term debt ba...
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