Below are cash transactions for a company, which provides consulting services related to mining of precious metals.a. Cash used for purchase of office supplies, $1,650.b. Cash provided from consulting to customers, $43,100.c. Cash used for purchase of mining equipment, $68,000.d. Cash provided from long-term borrowing, $55,000.e. Cash used for payment of employee salaries, $23,500.f. Cash used for payment of office rent, $11,500.g. Cash provided from sale of equipment purchased in c. above, $22,000.h. Cash used to repay a portion of the long-term borrowing in d. above, $37,500.i. Cash used to pay office utilities, $3,800.J. Purchase of company vehicle, paying $9,500 cash. Required:Calculate cash flows from investing activities. (List cash outflows as negative amounts.)Cash flows from investing activities2$

a. Cash used for purchase of office supplies Operating Activity b. Cash provided from…

Answered: Below are cash transactions for a…

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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Smith Corporation has provided the following information: Cash sales totaled $143,000.Credit sales totaled $297,000.Cash collections from customers for services yet to be provided totaled $56,000.An $18,000 gain from the sale of property and equipment occurred.Interest income totaled $9,500. How much were Smith's operating revenues?
Grier & Associates maintains its records on the cash basis. You have been engaged to convert its cash basis income statement to the accrual basis. The cash basis income statement, along with additional information, follows: Grier & Associates Income Statement (Cash Basis) For the Year Ended December 31, 2025 Cash receipts from customers $425,000 Cash payments: Salaries and wages $170,000 Income taxes 65,000 Insurance 40,000 Interest…
The following information on cash transactions were reported by FDNACCT Co.: Receipts from sale of goods = P390,000 Investment of owner = P28,000 Purchase of equipment = P858,000 Receipt of interest income = P2,000 Purchase of office supplies - P53,000 Withdrawal by owner = P20,000 How much is cash provided by (used in) Financing Activities? Enter as a negative number if the answer is used in Financing Activities.
Kane Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $50,500; net cash used in investing activities was $15,000 and net cash used in financing activities was $19,500. If the beginning cash balance is $7,500, what is the ending cash balance?
Sharpe Corporation has provided the following information: Cash sales totaled $125,000. Credit sales totaled $279,000. Cash collections from customers for services yet to be provided totaled $38,000. An $11,000 gain from the sale of plant and equipment occurred. Interest income totaled $7,700. How much was Sharpe's operating revenue? Group of answer choices a)$404,000 b)$411,700 c)$442,000 d)$460,700 e)None of the above
Identify the following as cash inflows or outflows to Anderson and Dyess Design-Build Engineers: office supplies, GPS surveying equipment, auctioning of used earth-moving equipment, staff salaries, fees for services rendered, interest from bank deposits.
Shown below are totals of the three sections from the SCF for the Sivad Motel for the year just ended. Analyze this information and prepare a report indicating your opinion regarding its sources and uses of cash and their impact on the future of the company. Your conclusions and recommendations should be supported with proper explanations and assumptions. Statement of Cash Flows Net cash provided by operating activities $10,000 Net cash used by investing activities (15,000) Net cash used by financing activities (5,000) Decrease in cash for the year (10,000) Cash at beginning of year 15,000 Cash at end of…
The controller of Newstrom Software, Inc., provides the following information as the basis for a statement of cash flows: Cash collected from customers $785,400 Income taxes paid $58,300 Cash paid for interest 22,100 Payment of dividends 35,000 Cash paid to employees and other suppliers of goods and services 221,750 Principal payments on mortgage payable 60,000 Cash paid to suppliers of merchandise 395,540 Principal payments on long-term debt 22,000 Cash received from the issuance of long-term debt 40,000 Proceeds from the issuance of common stock 85,000 Cash received from disposal of equipment 42,500 Purchase of equipment 120,000 Cash received from sale of long-term investments 71,400 Purchase of long-term investments 75,800 I am having trouble classifying what goes into what category (Operating, Investing, or Financing) for the cash flows and so I wanted to ask about this question while I do it. Use a minus sign to indicate any cash outflows: 1. Using…
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:
Husky Company has provided the following information for its most recent year of operation: Cash collected from customers totaled $90,000. Cash borrowed from banks totaled $33,100. Cash paid to employees for salaries totaled $32,800. Cash received from selling Husky common stock to stockholders totaled $48,000. Cash payments to banks for repayment of money borrowed totaled $8,200. Cash paid to suppliers totaled $8,600. Land costing $26,000 was sold for $26,000 cash. Cash paid for dividends to stockholders totaled $4,000. How much was Husky's cash flow from operating activities?
The following summary transactions occurred during the year for Bluebonnet. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $380,000 6,000 Cash flows from investing activities: -50,000 30,000 100,000 Net cash flows from investing activities 160,000 5,000 85,000 90,000 Required: Calculate net cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) 25,000 20,000 BLUEBONNET COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 $ 0
The following are summary cash transactions that occurred during the year for Hope Healthcare Company (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for: Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders Cash flows from operating activities: Cash received from customers Collection of note receivable Cash paid for operating expenses $ 810,000 27,000 250,000 Net cash flows from operating activities 55,000 350,000 Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign. 33,000 195,000 515,000 45,000

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