ABC had the follwing information related to 2020A Building with a cost of $8,000 and accumulated depreciation of $4000 was sold in 2020 for* Purchase a Building costing $23,000 by paying$10,000$3,000* ABC Co. paid cash dividends during 2020 totaled* ABC Company paid in cash a Bank Loan totaled$4,000* ABC Co. issued shares receiving cash totaled$9,000What is the amount of Net Cash flows from investing activities?Select one:a. 2000b. -8000c. All answers are falsed. 5000e. -7000f. -4000$6,000in cash and $13,000 investments in associaties

Lets understand the basics.Cashflow statement gets divided into,(1) Cashflow from operating…

Answered: ABC had the follwing information…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 11MCQ

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ABC had the following information related to 2020 * A Building with a cost of $8,000 and accumulated depreciation of $4000 was sold in 2020 for $8,000 * Purchase a Building costing $23,000 by paying $10,000 in cash and $13,000 investments in associaties * ABC Co. paid cash dividends during 2020 totaled $3,000 * ABC Company paid in cash a Bank Loan totaled $4,000 * ABC Co. issued shares receiving cash totaled $12,000 What is the amount of Net Cash flows from financing activities? Select one: a. All answers are false b. 5000 c. 15000 d. -3000 e. 30000 f. 13000
Swifty Company purchased treasury stock with a cost of $16500 during 2020. During the year, the company paid dividends of $19600 and issued bonds payable for proceeds of $850000. Cash flows from financing activities for 2020 total $850000 net cash outflow. $846900 net cash inflow. O $813900 net cash inflow. O $830400 net cash inflow.
Presented below are data taken from the records of Sheffield Company. December 31,2020 December 31,2019 Cash $15,100 $7,900 Current assets other than cash 85,800 59,800 Long-term investments 10,100 53,000 Plant assets 335,200 214,500 $446,200 $335,200 Accumulated depreciation $20,200 $40,200 Current liabilities 39,600 22,000 Bonds payable 75,800 –0– Common stock 252,800 252,800 Retained earnings 57,800 20,200 $446,200 $335,200 Additional information: 1. Held-to-maturity debt securities carried at a cost of $42,900 on December 31, 2019, were sold in 2020 for $33,600. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $49,600 and were 80% depreciated were sold during 2020 for $7,900. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the…
Presented below are data taken from the records of Sheffield Company. December 31,2020 December 31,2019 Cash $15,100 $7,900 Current assets other than cash 85,800 59,800 Long-term investments 10,100 53,000 Plant assets 335,200 214,500 $446,200 $335,200 Accumulated depreciation $20,200 $40,200 Current liabilities 39,600 22,000 Bonds payable 75,800 –0– Common stock 252,800 252,800 Retained earnings 57,800 20,200 $446,200 $335,200 Additional information: 1. Held-to-maturity debt securities carried at a cost of $42,900 on December 31, 2019, were sold in 2020 for $33,600. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $49,600 and were 80% depreciated were sold during 2020 for $7,900. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the…
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Presented below are data taken from the records of Crane Company. December 31, 2020 December 31, 2019 Cash $15,000 $7,900 Current assets other than cash 85,700 60,300 Long-term investments 10,000 52,700 Plant assets 334,400 216,700 $445,100 $337,600 Accumulated depreciation $20,100 $39,800 Current liabilities 39,700 22,100 Bonds payable 74,600 –0– Common stock 252,600 252,600 Retained earnings 58,100 23,100 $445,100 $337,600 Additional information: 1. Held-to-maturity debt securities carried at a cost of $42,700 on December 31, 2019, were sold in 2020 for $34,000. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $49,600 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the…
The following data are taken from the records of Alee Company. December 31,2020 December 31,2019 Cash $ 15,000 $ 8,000 Current assets other than cash 85,000 60,000 Long-term debt investments 10,000 53,000 Plant assets 335,000 215,000 $445,000 $336,000 Accumulated depreciation $ 20,000 $ 40,000 Current liabilities 40,000 22,000 Bonds payable 75,000 –0– Common stock 254,000 254,000 Retained earnings 56,000 20,000 $445,000 $336,000 Additional information: Held-to-maturity debt securities carried at a cost of $43,000 on December 31, 2019, were sold in 2020 for $34,000. The loss (not unusual) was incorrectly charged directly to Retained Earnings. Plant assets that cost $50,000 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. Net income as reported on the income statement for the year was $57,000. Dividends paid amounted to $10,000. Depreciation charged…
Additional information: * All purchases of inventories are on credit * The selling and administrative expenses include depreciation of R320 000 * Property, plant and equipment were purchased during the year but there were no disposals * The total dividends for the year ended 31 December 2021 amounted to R360 000 * The issued share capital consisted of 100 000 ordinary shares * The market price of the shares on 31 December 2021 was R35
Tahir Corporation had these transactions during 2020. Purchased furniture for $25,600 cash. Loss on disposal of equipment $1,500. Purchase Land for $23,600, giving a long-term note in exchange. Depreciation expense $7,000 Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000. Declared and paid a cash dividend of $18,000. Collected $17,000 from customers. Paid $18,000 to suppliers. Issued $50,000 par value common stock for cash. Paid Salary for $19,400 cash. Instructions Indicate whether each transaction is an operating activity, investing activity, financing activity, or noncash investing and financing activity.
Presented below are data taken from the records of Wildhorse Company. December 31,2020 December 31,2019 Cash $15,200 $8,100 Current assets other than cash 84,700 60,600 Long-term investments 10,000 52,900 Plant assets 332,400 215,200 $442,300 $336,800 Accumulated depreciation $20,100 $40,100 Current liabilities 39,600 22,100 Bonds payable 74,800 –0– Common stock 254,500 254,500 Retained earnings 53,300 20,100 $442,300 $336,800 Additional information: 1. Held-to-maturity debt securities carried at a cost of $42,900 on December 31, 2019, were sold in 2020 for $33,600. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $50,500 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the…
In 2023, Chen Corporation purchased treasury stock with a cost of $47,000. During the year, the company declared and paid dividends of $14,000 and issued bonds payable for $1,100,000. Net cash provided by financing activities for 2023 is: A $1,086,000.B. $1,053,000.C. $1,039.000.D. $1,100,000.
9. Selected information on PQR Company for 2022 are shown as follows: P275,000 Increase in current assets other than cash Unrealized gain on FVOCI equity investments Net income 30,000 1,882,000 Depreciation and amortization 256,000 Treasury stock acquired for cash 100,000 Carrying value of long-term debt retired 600,000 591,000 Cash paid to settle long-term debt Cash dividends paid 175,000 Equipment acquired for cash 200,000 Increase in current liabilities 122,000 The net cash flow provided by/used from operating activities for the year ended December 31, 2022 is: (Indicate if provided or used)

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