Assume the following excerpts from a company's balance sheet: Bonds payable Common stock Retained earnings Beginning Balance $500,000 $900, 000 $375,000 Ending Balance $600,000 $900,000 $443,000 During the year, the company did not retire any bonds or Issue or repurchase any common stock. If the company's net income for the year was $110,000, then its net cash provided by (used In) financing activities would be: Multiple Choce $(58,000). $142,000. $(142.000). $58,000. O O O

Assume the following excerpts from a company's balance sheet: Bonds payable Common stock Retained earnings Beginning Balance $500,000 $900, 000 $375,000 Ending Balance $600,000 $900,000 $443,000 During the year, the company did not retire any bonds or Issue or repurchase any common stock. If the company's net income for the year was $110,000, then its net cash provided by (used In) financing activities would be: Multiple Choce $(58,000). $142,000. $(142.000). $58,000. O O O

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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Tom Hanks Company had the following account activity Increase in income taxes payable $100,000 Increase in bonds payable 240,000 Sale of investments 130,000 Issuance of common stock 120,000 Payment of cash dividends 70,000 Purchased treasury stock 25,000 Net cash provided by financing activities is:
es Assume the following excerpts from a company's balance sheet: Beginning Balance $ 700,000 $ 950,000 Ending Balance $ 950,000 $950,000 $ 475,000 $ 490,000 Bonds payable Common stock Retained earnings During the year, the company's net income was $220,000 and it did not retire any bonds or issue or repurchase any common stock. Required: Calculate the net cash provided by (used in) financing activities. Net cash provided by financing activities $ (235,000)
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
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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

On May 1, Year 3, Love Corporation declared a $74,100 cash dividend to be paid on May 31 to shareholders of record on May 15. Required Record the events occurring on May 1 and May 31 in the following horizontal statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Date May 01 May 31 Assets Balance Sheet Liabilities Common Stock LOVE CORPORATION Horizontal Statements Model Retained Earnings Revenue Income Statement Expenses Net Income Statement of Cash Flows
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