A company reported that its bonds with a par value of $50,000 and a carrying value of $64,000 are retired for $68,400 cash, resulting in a loss of $4,400. The amount to be reported under cash flows from financing activities is:

A company reported that its bonds with a par value of $50,000 and a carrying value of $64,000 are retired for $68,400 cash, resulting in a loss of $4,400. The amount to be reported under cash flows from financing activities is:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $220,000 of bonds, on which there was $2,200 of unamortized discount, for $229,000. b. Sold 7,000 shares of $15 par common stock for $30 per share. c. Sold equipment with a book value of $51,800 for $74,600. d. Purchased land for $362,000 cash. e. Purchased a building by paying $75,000 cash and issuing a $120,000 mortgage note payable. f. Sold a new issue of $150,000 of bonds at 98. g. Purchased 4,400 shares of $15 par common stock as treasury stock at $28 per share. h. Paid dividends of $1.60 per share. There were 34,000 shares issued and 5,000 shares of treasury stock. Effect Amount a. b. C. d. e. f. g. h.
During the current year, Royal Industries sold treasury stock for $32,000 cash. The treasury stock was purchased last year for $28,000. The company also issued bonds payable for $430,000 cash and declared and paid dividends of $40,000. What amount did Royal report on its statement of cash flows for cash provided by financing activities? O $390,000 O $394,000 O $422,000 O $434,000
Effect of Transactions on Cash Flows State the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $220,000 of bonds, on which there was $2,200 of unamortized discount, for $229,000. b. Sold 12,000 shares of $30 par common stock for $53 per share. c. Sold equipment with a book value of $52,900 for $76,200. d. Purchased land for $329,000 cash. e. Purchased a building by paying $75,000 cash and issuing a $120,000 mortgage note payable. f. Sold a new issue of $320,000 of bonds at 98. g. Purchased 4,900 shares of $35 par common stock as treasury stock at $63 per share. h. Paid dividends of $2.20 per share. There were 19,000 shares issued and 3,000 shares of treasury stock. Effect Amount а. b. $ С. d. е. $ f. $ g. 2$ h.
Use the following information to calculate the net cash provided or used by financing activities. (a) Paid $29,800 cash to settle long-term notes payable at its $29,800 maturity value. (b) Acquired machinery for $12,900 cash. (c) Paid cash dividend of $13,900. (d) Net Income was $10,900. (e) Issued common stock for $40,900 cash. Statement of Cash Flows (partial) Cash flows from financing activities
During the current year, Royal Industries sold treasury stock for $32.000 cash. The treasury stock was purchased last year for $28,000. The company also issued bonds payable for $430,000 cash and declared and paid dividends of S40,000. What amount did Royal report on its statement of cash flows for cash provided by financing activities? O 390,000 O 394,000 $422,000 O $434,000
A company settles a long-term note payable plus interest by paying $68,000 cash toward the principal amount and $5,440 cash for interest. The amount reported as a use of cash under cash flows from financing activities is:
Renaldo Cross Company paid $2,000 interest on short-term notes payable, $10,000 principal of long-term bonds, and $6,000 in dividends on its common stock. Renaldo Cross Company would report cash outflows from activities, as follows: Multiple Choice Operating, $0; investing, $10,000; financing, $8,000. Operating, $0; investing, $0; financing, $18,000. Operating, $2,000; investing, $10,000; financing, $6,000. Operating, $2,000; investing, $0; financing, $16,000. 身

Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $220,000 of bonds, on which there was $2,200 of unamortized discount, for $229,000. b. Sold 12,000 shares of $15 par common stock for $23 per share. c. Sold equipment with a book value of $47,400 for $68,300. d. Purchased land for $436,000 cash. e. Purchased a building by paying $58,000 cash and issuing a $110,000 mortgage note payable. f. Sold a new issue of $240,000 of bonds at 97. g. Purchased 3,300 shares of $25 par common stock as treasury stock at $48 per share. h. Paid dividends of $2.50 per share. There were 28,000 shares issued and 4,000 shares of treasury stock. a. b. C. d. e. f. Effect Cash payment Cash receipt Cash receipt Cash payment ✓ Cash payment - ✓ Cash receipt ✔ ✓ ✓ g. Cash payment -✔ h. Cash payment Amount 229,000 ✓ 161,000 X 100000
Use the following information to calculate the net cash provided (inflow) or used by (outflow) from financing activities for the Lulu Corporation: (a) Net income, $10,000 (b) Sold common stock for $40,000 cash (c) Paid cash dividend of $13,000 (d) Repayment of bond payable, $26,000 (e) Purchased equ for $12,000 cash (f) Issued long term mortgage notes payable for $250,000 cash. (Note: in the answer space, write only the number, with no $ signs or commas. That is, if your answer is $1,000, white it as : 1000 ). Answer:
Effect of Transactions on Cash Flows State the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows: Retired $320,000 of bonds, on which there was $3,200 of unamortized discount, for $333,000. Sold 7,000 shares of $10 par common stock for $17 per share. Sold equipment with a book value of $56,600 for $81,500. Purchased land for $386,000 cash. Purchased a building by paying $70,000 cash and issuing a $100,000 mortgage note payable. Sold a new issue of $240,000 of bonds at 98. Purchased 6,400 shares of $40 par common stock as treasury stock at $75 per share. Paid dividends of $1.50 per share. There were 24,000 shares issued and 4,000 shares of treasury stock. Effect Amount a. Cash payment $fill in the blank 2 b. Cash receipt $fill in the blank 4 c. Cash receipt $fill in the blank 6 d. Cash payment $fill in the blank 8 e. Cash payment $fill in the blank 10 f. Cash receipt $fill in the blank…
Zirkle Company borrowed $129,000 from Plains Bank on July 31, Year 1. The note carried a 6% interest rate with a one-year term to maturity Required: a. Show the effects of borrowing the money and the December 31, Year 1 adjustment on the accounting equation. b. What is the amount of interest expense for Year 1? c. Prepare a statement of cash flows for the Zirkle Company for Year 1. Complete this question by entering your answers in the tabs below. Required A Required B Required C Show the effects of borrowing the money and the December 31, Year 1 adjustment on the accounting equation. Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed. ZIRKLE COMPANY Effect of Adjustment on the Accounting Equation Event Year 1 July 31 December 31 December 31, Year 1 Assets Liabilities Stockholders' Equity Raquinad A Required B > 13