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(Compute investing and financing amounts for the statement of cash flows) Compute the following items for the statement of cash flows: a. Beginning and ending Plant Assets, Net, are $99,000 and $92,000, respectively. Depreciation for the period was $11,000, and purchases of new plant assets were $23,000. Plant assets were sold at a $7,000 gain. What were the cash proceeds of the sale? b. Beginning and ending Retained Earnings are $37,000 and $74,000, respectively. Net income for the period was $61,000, and stock dividends were $14,000. How much were cash dividends?

(Compute investing and financing amounts for the statement of cash flows) Compute the following items for the statement of cash flows: a. Beginning and ending Plant Assets, Net, are $99,000 and $92,000, respectively. Depreciation for the period was $11,000, and purchases of new plant assets were $23,000. Plant assets were sold at a $7,000 gain. What were the cash proceeds of the sale? b. Beginning and ending Retained Earnings are $37,000 and $74,000, respectively. Net income for the period was $61,000, and stock dividends were $14,000. How much were cash dividends?

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 6DQ
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(Compute investing and financing amounts for the statement of cash flows) Compute the following items for the statement of cash flows: a. Beginning and ending Plant Assets, Net, are $99,000 and $92,000, respectively. Depreciation for the period was $11,000, and purchases of new plant assets were $23,000. Plant assets were sold at a $7,000 gain. What were the cash proceeds of the sale? b. Beginning and ending Retained Earnings are $37,000 and $74,000, respectively. Net income for the period was $61,000, and stock dividends were $14,000. How much were cash dividends?
Transcribed Image Text:(Compute investing and financing amounts for the statement of cash flows) Compute the following items for the statement of cash flows: a. Beginning and ending Plant Assets, Net, are $99,000 and $92,000, respectively. Depreciation for the period was $11,000, and purchases of new plant assets were $23,000. Plant assets were sold at a $7,000 gain. What were the cash proceeds of the sale? b. Beginning and ending Retained Earnings are $37,000 and $74,000, respectively. Net income for the period was $61,000, and stock dividends were $14,000. How much were cash dividends?
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