1. If the milk-processing machine processes 10400 gallons o
1. If the milk-processing machine processes 10400 gallons of milk… 1. If the milk-processing machine processes 10400 gallons of milk in 2020, and it uses the units of activity method, what is the correct depreciation expense for the milk-processong machine for 2022? 2. What is the gain or loss c’est cheese would report on the sale of delivery van? 3. If sufficient dividends were declared in 2020, and assuming no dividends were declared in 2021, how much in dividends would common shareholders receive in 2022? Image transcription textOn April 1, 2020, C’est Cheese issues 20,000 shares of 4%, $10 par, cumulative preferred stock $15 per share.It had previously issued 65,000 shares of $1 par, common stock. (HINT: make the journal entry.) Using all of theproceeds from the issuance of the preferred stock, on the same day, it purchases fixed assets for… Show more… Show more Accounting Business Financial Accounting
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