Chuzzle Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during the current year: Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payment for dividends Cash payments for taxes Cash payment to purchase land Cash balance – beginning 4,000,000 2,000,000 300,000 2,200,000 1,200,000 100,000 200,000 400,000 800,000 3,500,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

1. What amount should be reported as net cash provided by investing activities?

2. What amount should be reported as cash balance at year-end?

Chuzzle Company used the direct method to prepare the statement of cash flows. The entity
had the following cash flows during the current year:
Cash receipts from issuance of ordinary shares
Cash receipts from customers
Cash receipts from dividends on long-term investments
Cash receipts from repayment of loan made to another entity
Cash payments for wages and other operating expenses
Cash payments for insurance
Cash payment for dividends
Cash payments for taxes
Cash payment to purchase land
Cash balance – beginning
4,000,000
2,000,000
300,000
2,200,000
1,200,000
100,000
200,000
400,000
800,000
3,500,000
Transcribed Image Text:Chuzzle Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during the current year: Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payment for dividends Cash payments for taxes Cash payment to purchase land Cash balance – beginning 4,000,000 2,000,000 300,000 2,200,000 1,200,000 100,000 200,000 400,000 800,000 3,500,000
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Balance Sheet Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education