A company had the following cash flows for the year. (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Pald employee salarles, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (1) Sold equipment, $40,000 (g) Sold services to customers, $120,000 What amount would be reported for net financing cash flows In the statement of cash flows?
A company had the following cash flows for the year. (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Pald employee salarles, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (1) Sold equipment, $40,000 (g) Sold services to customers, $120,000 What amount would be reported for net financing cash flows In the statement of cash flows?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5MC
Related questions
Question
100%
![22
A company reports cost of goods sold of $75 milmon. Inventory at the beginning and end of the year is $8 million and $9 million, respectively. Accounts pavable at the beginning and end of the year are $5 milion and $3 million, respectively. What is the amount of cash
paid to supplers?
Multiple Choice
$78 million
$72 million.
$75 million.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0b683749-58e5-4e30-bd6b-95e0226f4526%2F0f765f47-2c43-46f3-955b-da5963f749ea%2Fyrhbum_processed.jpeg&w=3840&q=75)
Transcribed Image Text:22
A company reports cost of goods sold of $75 milmon. Inventory at the beginning and end of the year is $8 million and $9 million, respectively. Accounts pavable at the beginning and end of the year are $5 milion and $3 million, respectively. What is the amount of cash
paid to supplers?
Multiple Choice
$78 million
$72 million.
$75 million.
![Saved
A company had the following cash flows for the year.
25
(a) Purchased land, $60,000
(b) Borrowed from a local bank, $100,000
(c) Pald employee salarles, $50,000
(d) Issued common stock, $75,000
(e) Pald dividends, $20,000
(f) Sold equlpment, $40,000
(g) Sold services to customers, $120,000
eBook
What amount would be reported for net financing cash flows In the statement of cash flows?
Multiple Choice
$155,000.
$70,000.
($20,000).
O $40.000o.
LO](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0b683749-58e5-4e30-bd6b-95e0226f4526%2F0f765f47-2c43-46f3-955b-da5963f749ea%2Fz4t7rwj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Saved
A company had the following cash flows for the year.
25
(a) Purchased land, $60,000
(b) Borrowed from a local bank, $100,000
(c) Pald employee salarles, $50,000
(d) Issued common stock, $75,000
(e) Pald dividends, $20,000
(f) Sold equlpment, $40,000
(g) Sold services to customers, $120,000
eBook
What amount would be reported for net financing cash flows In the statement of cash flows?
Multiple Choice
$155,000.
$70,000.
($20,000).
O $40.000o.
LO
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Managerial Accounting: The Cornerstone of Busines…](https://www.bartleby.com/isbn_cover_images/9781337115773/9781337115773_smallCoverImage.gif)
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Financial Accounting: The Impact on Decision Make…](https://www.bartleby.com/isbn_cover_images/9781305654174/9781305654174_smallCoverImage.gif)
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning