6. In preparing a company's statement of cash flows for the most recent year, the followinginformation is available:Loss on the sale of equipmentPurchase of equipment for cashProceeds from the sale of equipmentRepayment of outstanding bondsPurchase of treasury stockIssuance of common stock$ 14,300148,000129,00088,50063,50097,500 Purchase of land for cashIncrease in accounts receivable during the yearDecrease in accounts payable during the yearPayment of cash dividendsNet cash flows from investing activities for the year were:(A) $258,000 of net cash used.(B) $225,500 of net cash provided.(C) $137,000 of net cash provided.(D) $122,700 of net cash used.(E) $137,000 of net cash used.118,00044,50076,50036,500

Cash flow from investing activities is one of the three main sections in a company's statement of…

6. In preparing a company's statement of cash flows for the most recent year, the following information is available: Loss on the sale of equipment Purchase of equipment for cash Proceeds from the sale of equipment Repayment of outstanding bonds Purchase of treasury stock Issuance of common stock $ 14,300 148,000 129,000 88,500 63,500 97,500

6. In preparing a company's statement of cash flows for the most recent year, the following information is available: Loss on the sale of equipment Purchase of equipment for cash Proceeds from the sale of equipment Repayment of outstanding bonds Purchase of treasury stock Issuance of common stock $ 14,300 148,000 129,000 88,500 63,500 97,500

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 3PB: The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows: The...

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The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: The noncurrent asset, noncurrent liability, and stockholders equity accounts for 20Y2 are as follows: Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.
The comparative balance sheet of Coulson, Inc. at December 31, 20Y2 and 20Y1, is as follows: The noncurrent asset, noncurrent liability, and stockholders equity accounts for 20Y2 are as follows: Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.
14. Cash Flow Statement Required: Prepare a statement of Cash Flows For Year Ended December 31, 2021 Use Proper Format and Indirect Method The comparative balance sheets of Street Inc. at the beginning and end of the year 2021 are as follows: Cash Accounts Receivable Inventory Property, Plant and Equipment Accumulated Depreciation Marketable Securities Loan Receivable Total Assets Accounts Payable Income Taxes Payable Dividends Payable Lease Liability Common Stock Capital in Excess of Par Retained Earnings Total Liabilities and Stockholders Equity Street, Inc. Income Statement For Year Ended December 31, 2021 Sales Cost of Good Sold Gross Profit Depreciation Expense Administrative Expense Earnings Before Interest and Taxes Interest Expense Earnings Before Taxes Taxes Net Income Dec 31st $600,000 332,000 4,100,000 600,000 550,000 (325,000) (300,000) 1,250,000 1,000,000 100,000 $6,557,000 $6,070,000 $180,000 $140,000 45,000 46,000 10,000 January 1st $320,000 300,000 4,100,000 $4,000,000…
Use the comparative balance sheet and the additional information provided to prepare a cash flow statement for Yannik Inc for the year ended 12/31/2021. Cash Accounts receivable (net) Inventory Equipment Accumulated depreciation TOTAL Accounts payable Notes payable - Long-term Common stock Retained earnings TOTAL Notes 2021 900,000 600,000 900,000 1,500,000 (600,000) 3,200,000 650,000 700,000 1,200,000 750,000 3,200,000 2020 700,000 500,000 750,000 1,200,000 (500,000) 2,650,000 400,000 800,000 1,000,000 450,000 2,650,000 1. Net income was $400,000. 2. Net income include a loss on sale of equipment equal to $20,000. The equipment had a book value of $80,000 at the time of sale. 3. Depreciation for the year was $100,000 4. Dividends of 100,000 have been declared and paid. 5. Increases or decreases in Equipment, Common Stock or Notes Payable refers to relevant purchases, issuances sales or retirements.
Chapter 13 Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc. for December 31, 20Y6 and 20Y5, is as follows: Dec. 31, 20Y6 Dec. 31, 20Y5 Assets Cash $287,620 $265,700 Accounts receivable (net) 104,190 95,430 Inventories 294,120 282,540 Investments 109,460 Land 150,860 Equipment 324,520 249,790 Accumulated depreciation (75,970) (67,360) Total assets $1,085,340 $935,560 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $196,450 $184,310 Accrued expenses payable (operating expenses) 19,540 24,320 Dividends payable 10,850 8,420 Common stock, $10 par 58,610 45,840 Paid-in capital: Excess of issue price over par-common stock 220,320 127,240 Retained earnings 579,570 545,430 Total liabilities and stockholders' equity $1,085,340 $935,560 The income statement for the year ended December 31, 20Y6, is as follows: Sales $1,730,890 Cost of goods sold 712,700 Gross profit $1,018,190 Operating expenses: Depreciation expense $8,610…
Use the appropriate information from the data provided below to calculate the net cash provided (used) by operating activities for the period. Net income Accounts receivable increase (for the period) Inventory decrease (for the period) Proceeds from the issuance of long-term debt Accounts payable decrease (for the period) Purchases of equipment Depreciation and amortization expense $ 113,000 24,000 19,000 260,000 11,000 175,000 42,000
III. The following changes in the statement of financial position accounts of BC were gathered for preparation of Statement on Cash Flow: Cash Short-term investment Accounts receivable Inventory Noncurrent investment Equipment Accumulated depreciation - increase Accounts payable Dividends payable Short-term notes, non-trade Long-term debts Ordinary share, P10 par Share premium (APIC) Accumulated profits Increase (Decrease) 270,000 200,000 (20,000) 100,000 (100,000) 700,000 50,000 (5,000) 160,000 300,000 130,000 150,000 75,000 290,000 The following additional information relates to the same year: a. Net income was P1,090,000. b. Cash dividend declared was P800,000. c. Equipment costing P600,000 and having carrying cost of P350,000 was sold for P350,000. Required: Determine the following: 1. Total net cash flow 2. Net cash flow from operating 3. Net cash flow from investing 4. Net cash flow from financing
REQUIRED Study the statement of cash flows of Mantis Limited for the year ended 31 December 2021 and answer the following questions: Calculate the following for the year ended 31 December 2021: Depreciation Dividends paid Of what significance is this statement of cash flows to the shareholders of Mantis Limited? Comment on the following: Cash flows from operating activities (R181 800) 1.3.2. Increase in inventory (R808 000) Increase in receivables (R606 000) Interest paid (R80 800) Cash flows from investing activities (R2 343 200) INFORMATION MANTIS LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 R Cash flows from operating activities (181 800) Operating profit 979 700 Depreciation ? Profit before working capital changes ? Working capital changes (808 000) Increase in inventory (808 000) Increase in receivables…
When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of a increase in the Common Stock account of $150,000 and an increase in the Paid-In Capital in Excess Par Common Stock of $25,000 for which cash of $175,000 was received for the issuance of additional common stock. Group of answer choices Add the $175,000 as Cash received from the issuance of common stock in the Cash flow from Investing Activities section of the Statement of Cash Flow. Less the $175,000 as Cash paid for the issuance of common stock in the Cash flow from Investing Activities section of the Statement of Cash Flow. Add the $175,000 as Cash received from the issuance of common stock in the Cash flow from Financing Activities section of the Statement of Cash Flow. Less the $175,000 as Cash paid for the issuance of common stock in the Cash flow from Financing Activities section of the Statement of Cash Flow.
The following is an extract from the financial statements of Pompeii at 31 October: 20X7 20X6 $00 $000 Equity and liabilities: Share capital 120 80 Share premium 60 40 Retained earnings 85 68 265 188 Non-current liabilities: Bank loan 100 150 365 338 What Pompeii's net cash inflow or outflow from financing activities to include in the statement of cash flows for the year ended 31 October 20X7?
The Q Ltd.provides the following information about its activities in the year 2021.Marketable securities purchased: $45,000Treasury stock purchased: $56,000Inventory purchased: $412,000Land sold: $95,000Machinery purchased: $278,000Common stock issued: $168,000Compute net cash provided by investing activities to be reported in the statement of cash flows of Q Ltd.
(please see attached image to easily understand the question) P12-1B You are provided with the following transactions that took place during a recent fiscal year. Transaction Statement of cash flow affected --------------------- (a) Purchased shares of commontreasury stock.(b) Paid a cash dividend to commonstockholders.(c) Recorded cash sales.(d) Recorded sales on account.(e) Recorded prepayment of insuranceexpense.(f) Purchased supplies on account.(g) Recorded amortization expense ona patent.(h) Recorded and received interest revenue.(i) Recorded cash proceeds from a sale ofplant assets.(j) Acquired land by issuing a notepayable. InstructionsComplete the table indicating whether each item (1) affects operating (O) activities, investing (I) activities, financing (F) activities, or is a noncash (NC) transaction reported in aseparate schedule, and (2) represents a cash inflow or cash outflow or has no cash flow effect.…