Cash and cash equivalents, Jan. 1.. $ 35,800 Cash and cash equivalents, Dec. 31 Cash paid to acquire plant assets Proceeds from short-term borrowing 74,800 21,000 10,000 Loans made to borrowers 5,000 Collections on loans (excluding interest) 4,000 Interest and dividends received 27,000 Cash received from customers. 795,000 Proceeds from sales of plant assets Dividends paid.. Cash paid to suppliers and employees Interest paid 9,000 55,000 635,000 19,000 Income taxes paid 71,000 Using this information, prepare a statement of cash flows. Include a proper heading for the financial statement, and classify the given information into the categories of operating activities, investing activities, and financing activities. Determine net cash flows from operating activities by the direct method. Place brackets around the dollar amounts of all cash disbursements.
Cash and cash equivalents, Jan. 1.. $ 35,800 Cash and cash equivalents, Dec. 31 Cash paid to acquire plant assets Proceeds from short-term borrowing 74,800 21,000 10,000 Loans made to borrowers 5,000 Collections on loans (excluding interest) 4,000 Interest and dividends received 27,000 Cash received from customers. 795,000 Proceeds from sales of plant assets Dividends paid.. Cash paid to suppliers and employees Interest paid 9,000 55,000 635,000 19,000 Income taxes paid 71,000 Using this information, prepare a statement of cash flows. Include a proper heading for the financial statement, and classify the given information into the categories of operating activities, investing activities, and financing activities. Determine net cash flows from operating activities by the direct method. Place brackets around the dollar amounts of all cash disbursements.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Cash and cash equivalents, Jan. 1..
$ 35,800
Cash and cash equivalents, Dec. 31
Cash paid to acquire plant assets
Proceeds from short-term borrowing
74,800
21,000
10,000
Loans made to borrowers
5,000
Collections on loans (excluding interest)
4,000
Interest and dividends received
27,000
Cash received from customers.
795,000
Proceeds from sales of plant assets
Dividends paid..
Cash paid to suppliers and employees
Interest paid
9,000
55,000
635,000
19,000
Income taxes paid
71,000
Using this information, prepare a statement of cash flows. Include a proper heading for the financial
statement, and classify the given information into the categories of operating activities, investing
activities, and financing activities. Determine net cash flows from operating activities by the direct
method. Place brackets around the dollar amounts of all cash disbursements.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc2118575-ee65-4eda-889a-95729f0cfc7d%2Fe03cbdee-20de-4931-b4ef-05a79c07b158%2Fjk5gzn_processed.png&w=3840&q=75)
Transcribed Image Text:Cash and cash equivalents, Jan. 1..
$ 35,800
Cash and cash equivalents, Dec. 31
Cash paid to acquire plant assets
Proceeds from short-term borrowing
74,800
21,000
10,000
Loans made to borrowers
5,000
Collections on loans (excluding interest)
4,000
Interest and dividends received
27,000
Cash received from customers.
795,000
Proceeds from sales of plant assets
Dividends paid..
Cash paid to suppliers and employees
Interest paid
9,000
55,000
635,000
19,000
Income taxes paid
71,000
Using this information, prepare a statement of cash flows. Include a proper heading for the financial
statement, and classify the given information into the categories of operating activities, investing
activities, and financing activities. Determine net cash flows from operating activities by the direct
method. Place brackets around the dollar amounts of all cash disbursements.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education