Please see attachments for details (Compute investing and financing amounts for thestatement of cash flows) Compute the following items forthe 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 cashproceeds 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 werecash dividends?

Step 1: Determining the Investing & Financing Cash FlowsThe cash flow statement of any firm…

Answered: (Compute investing and financing…

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

See similar textbooks

Similar questions

Using the Exhibit below, assume that the depreciation expense on the Income Statement for the year was $38,000. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of depreciation expense on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of assets (XXX) Changes in current operating assets and liabilities:…
Subject: acounting
Using the Exhibit below, assume that the amount of Net Income on the Income Statement for the year was $100,000. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of net income on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of assets (XXX) Changes in current operating assets and liabilities:…
Use the following company information to calculate net cash provided or used by investing activities. (a) Long-term investments were sold for $51,000 cash, yielding a gain of $22,150. (b) Paid $72,000 cash for new machinery. (c) Sold land costing $34,000 for $40,000 cash, yielding a $6,000 gain. (d) Equipment with a book value of $195,000 and an original cost of $320,000 was sold at a loss of $27,000. Statement of Cash Flows (partial) Cash flows from investing activities
am.111.
If Marigold Imports Corporation realizes a gain of $96000 on a cash sale of a building having a book value of $708000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is $612000. $708000. $804000. $96000.
it is about constructing cash flow statement using indirect method, how is it get the 45? And please explain the calculation.
please do not prtovide solution in image format thank you!
7. Use the following information from Dubuque Company’s financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018: 2018 Income Statement Balance Sheets Sales $299,000 Cost of Goods Sold (135,000) Operating Expenses, other than depreciation expense. (27,000) Depreciation Expense (17,000) Gain on Sale of Plant Assets 16,500 ------------- Net Income…
a machine with a cost of 152,000 and accumulated depreciation of 96,000 is sold for 48,800 cash. the total amount related to this machine that should be reported in the operation section of the statement of cash flow under the indirect method
Which of the following statements is true when computing the net cash provided by (used in) operating activities using the Indirect method? Multiple Cholce If the property, plant, and equlpment balance Increases during the perlod, the amount of the Increase is added to net Income. If the prepald expenses balance Increases during the perlod, the amount of the Increase is added to net Income. If the property, plant, and equipment balance Increases during the perlod, the amount of the Increase is subtracted from net Income. If the prepald expenses balance Increases during the perlod, the amount of the Increase is subtracted from net Income.
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: Date Item Debit Credit BalanceDebit BalanceCredit January 1 Balance 1,131,000 March 12 Purchased for cash 385,000 1,516,000 October 4 Sold for $211,000 181,000 1,335,000 Item Section of Statement ofCash Flows Added or Deducted Amount March 12: Purchase of fixed asset $fill in the blank 3 October 4: Sale of fixed asset $fill in the blank 6 Gain on sale of fixed asset (assume the indirect method) $fill in the blank 9

SEE MORE QUESTIONS

Recommended textbooks for you

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Cornerstones of Financial Accounting

Accounting

ISBN:

9781337690881

Author:

Jay Rich, Jeff Jones

Publisher:

Cengage Learning

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS