Blossom Corporation reported the following information (in thousands) at December 31, 2021:Dividends payableBank loan payable-current portionBank loan payable-non-current portionCommon sharesRetained earningsAdditional information:1.2.3.4.2021$ 302304306207202020$ 5230310440560The bank loan was increased by additional borrowings of $340 to partially finance the purchase of new equipment that cost$680. The bank loan was decreased by repayments.Common shares were issued during the year. None were repurchased.The company paid dividends during the year.Net income for the year was $460.Prepare the financing activities section of Blossom's statement of cash flows for the year. (Show amounts that decrease cash flow witheither a - sign e.g.-15,000 or in parenthesis e.g. (15,000).)BLOSSOM CORPORATIONStatement of Cash Flows (Partial)($ in thousands)

CASH FLOW STATEMENTCash flow statement provides additional information to user of financial…

Answered: Blossom Corporation reported the…

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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ORANGE Corporation reported net income of P 3,000,000 for 2021. Changes occurred in several balance sheet accounts during 2021 as follows: Investment in associate, carried at equity - P 400,000 increase; Premium on bonds payable - P 50,000 decrease; Accumulated depreciation caused by major repair of equipment - P 200,000 decrease; Deferred tax liability - P 150,000 increase. In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by operating activities?
Vaughn Corporation had the following activities in 2025. 1.Payment of accounts payable $827,000. 2. Issuance of common stock $268,000. 3. Payment of dividends $321,000. 4. Collection of note receivable $93,000. 5. Issuance of bonds payable $549,000. 6. Purchase of treasury stock $45,000. Compute the amount Vaughn should report as net cash provided (used) by financing activities in its 2025 statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash by financing activities $
In 2021, Lmao company reported cash basis income of P 7,800,000. Tracing back its records, accounts receivable and accounts payable on December 31, 2021 were P5,200,000 and P 1,950,000 respectively. During the year, the accounts receivable increased by 200% while accounts payable decreased by 50%. How much were net income using accrual method?
Interest expense for Rhodes Manufacturing was $500,000 in 2018. During 2018, $3.7 million in old debt was repaid and $1.6 million was raised through new borrowing. Dividends of $460,000 were paid and $1.7 million was raised through new share sales. a. Calculate the cash flow to bondholders. Treat interest as a financing flow. (Enter answers in dollar, not in millions of dollar. Use minus sign to enter cash or financing outflows, if any.)
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 Prepare a statement of cash flows for the Zirkle Company for Year 1. Note: Cash outflows should be indicated with a minus sign. ZIRKLE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Net cash flow from investing activities Cash flows from financing activities Net cash flow from financing activities < Required B Required C
Cable Company reported bond interest expense of $40,000 for the current year. During the year, the balance in the premium on bonds payable account decreased by $1,500. What was the amount of cash paid for interest expense during the year? Cash paid for interest expense
You are the new accountant for 12th National Bank and are preparing its 2019 statement of cash flows. The bank reports net income of $75,800 on its 2019 income statement. Included in this net income are the following items: $6,700 gain on sale of trading securities, $1,200 unrealized holding gain on trading securities, and $5,100 loss on sale of securities available for sale. Among its 2019 transactions, the bank sold trading securities with a carrying value of $22,900 for $29,600, and purchased trading securities for $65,200. The bank sold securities available for sale with a cost (and carrying value) of $58,700 for $53,600, and purchased securities available for sale for $39,400. It also made routine 90-day loans of $47,500 to customers and collected $20,000 principal on these customer loans. As a result of the preceding information, the bank’s trading securities account increased by $43,500, the securities available for sale account decreased by $19,300, and the loans receivable…
11. In 2020, Windsor Corporation reported a net loss of $69,800. Windsor’s only net income adjustments were depreciation expense $81,700, and increase in accounts receivable $8,900.Compute Windsor’s net cash provided (used) by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash by operating activities $
Swifty Corporation's transactions for the year ended December 31, 2021 included the following:• Purchased real estate for $1245000 cash which was borrowed from a bank.• Sold available-for-sale securities for $1080000.• Paid dividends of $1180000.• Issued 550 shares of common stock for $550000.• Purchased machinery and equipment for $250000 cash.• Paid $908000 toward a bank loan.• Reduced accounts receivable by $195000.• Increased accounts payable $396000.Swifty's net cash used in financing activities for 2021 was $843000. $445000. $908000. $293000.
From the following information, you are required to prepare Profit and Loss Account of Zee Bank Ltd., for the year ending 31st March, 2016 : $ 2$ Interest and Discount Other Income Income on Investments 44,00,000 Interest Expended 1,25,000 Operating Expenses 5,000 Interest on Balance with RBI 13,60,000 13,31,000 25,000 Additional information : (a) Rebate on bills discounted to be provided for $ 15,000 (b) Classification of advances : $ 25,00,000 5,60,000 2,55,000 Standard Assets Sub-standard Assets (fully secured) Doubtful Assets not covered by Security Doubtful Assets covered by Security : For 1 year For 2 years For 3 years For 4 years Loss Assets 25,000 50,000 1,00,000 75,000 1,00,000 (c) Make tax provision @ 35% (d) Profit and Loss A/c (Cr.) $40,000.
tyson Company's working capital accounts at December 31, 2018, are given below: Current Assets: Cash $100,000 Marketable Securities 50,000 Accounts Receivable $250,000 Less Allowance for Doubtful Accounts (20,000) 230,000 Inventory, Lifo 300,000 Prepaid 8,000 Total Current Assets $688,000 Current Liabilities: Accounts Payable $200,000 Notes Payable 50,000 Taxes Payable 10,000 Accrued Liabilities 30,000 Total Current Liabilities $290,000 During 2019, DeCort Company completed the following transactions: a. Purchased fixed assets for cash, $20,000. b. Exchanged DeCort Company common stock for land. Estimated value of transaction, $80,000. c. Payment of $40,000 on short-term notes payable. d. Sold marketable securities costing $20,000 for $25,000 cash. e.…
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

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