Determine the effect (cash receipt or cash payment,and the amount) of the following transaction on cashflows: Purchased 6,300 shares of $40 par commonstock as treasury stock at $74 per share.

Explanation of Treasury StockTreasury stock refers to shares that a company has repurchased from its…

Answered: Determine the effect (cash receipt or…

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 6BE

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Ace Co. issued 1,000 shares of its $10 par value common stock for $15 per share in cash. How should this transaction be reported in Ace's statement of cash flows for the year of issuance? A. $15,000 cash inflow from financing activities. B. $10,000 cash inflow from financing activities and $5,000 adjustment to arrive at cash flows from operating activities. C. $15,000 cash flow from investing activities. D. $10,000 cash flow from investing activities and $5,000 adjustment to arrive at cash flows from operating activities
Prepare the journal entry to record Zende Company's issuance of 65,000 shares of $4 par value common stock assuming the shares sell for: a. $4 cash per share. b. $5 cash per share. View transaction list Journal entry worksheet Record the issuance of 65,000 shares of $4 par value common stock assuming the shares sell for $4 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal
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Subject : Accounting
Prepare a balance sheet for Cornell Corp. based on the following information: cash = $120,000; accounts payable & accruals = $200,000; accounts receivable = $105,000; net fixed assets = $1,750,000; inventory = $290,000; notes payable = $160,000; Retained Earninigs = $660,000; Common Stock (par value+paid in Cap) = $400,000. Prepare the balance sheet. Calculate the long term debt of the firm. Calculate the NWC (Net Working Capital) and Debt to Equity (D/E) ratio.
The following information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Current Year $ 105,000 567,000 313,500 Paid-in capital in excess of par Prior Year $ 100,000 342,000 287,500 Retained earnings The company's net income for the current year ended December 31 was $48,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Beginning balance Issuance of common stock Ending balance Common Stock, $10 Par Paid-in Capital in Excess of Par Beginning Balance Issuance of common stock Ending balance Cash received $ 230,000 100,000 50,000 150,000 342,000 225,000 567,000
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Melanie Corporation declared cash dividends of $12,600 during the current year. The beginning and ending balances in dividends payable were $360 and $600, respectively. What was the amount of cash paid for dividends? Multiple Choice $12.000. $12,840. $11,640. $12,360. To

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Determine the effect (cash receipt or cash payment, and the amount) of the following transaction on cash flows: Purchased 6,300 shares of $40 par common stock as treasury stock at $74 per share.