1. Last year Ark charged $1,298,267 Depreciation on the Income Statement of Andrews. If Ark sold a fully depreciated piece of equipment at a loss, the effect on Andrews's financial statements would be (all other items remaining equal):
No impact on Net Cash from operations
Just impact the Balance Sheet
Decrease Net Cash from operations on the Cash Flow Statement
Increase Net Cash from operations
2. In the Month of March, Digby received orders of 133 units at a price of $15.00 for their product Dug. Digby uses the accrual method of accounting and offers 30 day credit terms. Digby delivers 133 units in April. They received payment for 67 units in March, and 67 units in April. In the March income statement, how much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)
$998 , $998
$1,995 , 0
0, $1,995
0, $998