Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet for equity: Jan. 1 $105,000 376,750 Dec. 31 Common stock Retained earnings Required: Assume that, for the current year, Nichols did not retire any stock, it reported $94,300 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows. Issuance of common stock Payment of cash dividends $162,000 455,490

Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet for equity: Jan. 1 $105,000 376,750 Dec. 31 Common stock Retained earnings Required: Assume that, for the current year, Nichols did not retire any stock, it reported $94,300 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows. Issuance of common stock Payment of cash dividends $162,000 455,490

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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In preparing its cash flow statement for the year ended December 31, 2021, Green Co. gathered the following data: Gain on sale of land $ 12,200 21,300 Proceeds from sale of land Purchase of Black, Inc., bonds (face value $235,000) Amortization of bond discount 365,000 4,500 93,000 78,000 Cash dividends declared Cash dividends paid Proceeds from sales of Green Co. common stock 155,000 In its December 31, 2021, statement of cash flows, what amount should Green report as net cash from financing activities? Multiple Choice $15,000. $77,000. $62,000. $130,000.
TB Problem 21-151 (Algo) In its 2021 Annual Report to Shareholders, Kinney Inc. reported the following Consolidated Statement of Cash Flows: For the years ended December 31, Cash flow from operating activities: Cash received from customers Cash paid to suppliers and employees Interest paid, net Income taxes paid Cash provided by operations. Cash flow from investing activities: Capital expenditures and acquisitions Expenditures for other assets Cash used in investing activities Cash flow from financing activities: Principal payments of long-term debt and lease agreements Addition to long-term debt and lease liability Purchase of common stock and other capital transactions Payment of dividends Cash provided by (used in) financing activities Net increase (decrease) in cash Cash at beginning of year Cash at end of year 2021 $ 198,652,040 (191,876,791) (1,863,990) (346,650) 4,564,609 $ (3,303,579) (37,560) (3,341,139) (1,762,485) 3,068,378 (1,545,906) (795,558) (1,035,571) 187,899 180, 115…
Oriole Company purchased treasury stock with a cost of $68200 during 2022. During the year, the company paid dividends of $24800 and issued bonds payable for proceeds of $1086200. Cash flows from financing activities for 2022 total $93000 net cash outflow. $993200 net cash inflow. $1129600 net cash inflow. $1061400 net cash inflow.
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the following information: ($ in millions)Fair value of shares issued in a stock dividend $ 65Payment for the early extinguishment oflong-term bonds (book value: $97 million) 102Proceeds from the sale of treasury stock (cost: $17 million) 22Gain on sale of land 4Proceeds from sale of land 12Purchase of Microsoft common stock 160Declaration of cash dividends 44Distribution of cash dividends declared in 2020…
Hy9vKm0jUnAg/formResponse?plis1 Consider the following statement of cash flows for Chicken Fil-A company. (in thousands) Cash flows from operating activities (CFO): 2020 2019 Net income Adjustments to reconcile net income to CFO: $8,100 $6,800 Depreciation and amortization 3,100 1,600 Deferred income taxes Other non-cash items 900 700 (600) (700) (Increase) decrease in operating assets and liabilities: Accounts receivable (7,800) (2,300) (2,100) (900) (1,300) Inventories 1,700 Other current assets 2,000 Accounts payable Income taxes payable Accrued liabilities 4,100 (800) 400 1,700 700 Net CFO 1,500 13.800 Cash flows from investing activities: Purchases of property and equipment Net cash used by investing activities Cash flows from financing activities: Proceeds from common stock sales (800) (800) (1,200) (1,200) 4,600 (1,100) (3,300) 4,700 100 Proceeds (repayments) of short-term debt Repayment of long-term debt Net cash provided by financing activities (200) 4.600 5,300 200 12,800 Net…
PART II - Below are 2019 FMT Company Cash flow accounts. Increase in bonds 170.0 Net income 117.5 Increase in notes payable Depreciation and amortization Additions to property, plant, and equipment 50.0 100.0 ($230.0) (200.0) Increase in inventories Increase in accrued wages and taxes 10.0 (60.0) (57.5) Increase in accounts receivable Payment of dividends to stockholders Increase in accounts payable 30.0 Net cash provided by (used in) operating activities Net cash used in investing activities Net cash provided by financing activities Net increase (decrease) in cash ? Requirements: 2. Compute for the following: Net cash provided by financing activities Net increase (decrease) in cash
Vaughn Corporation had the following activities in 2025. 1.Payment of accounts payable $827,000. 2. Issuance of common stock $268,000. 3. Payment of dividends $321,000. 4. Collection of note receivable $93,000. 5. Issuance of bonds payable $549,000. 6. Purchase of treasury stock $45,000. Compute the amount Vaughn should report as net cash provided (used) by financing activities in its 2025 statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash by financing activities $
Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet at the end of 2019 and 2018 for equity: 12/31/2019 12/31/2018 Common stock $210,000 $135,000 Retained earnings 495,300 412,800 Required: Assume that Nichols did not retire any stock during 2019, it reported $105,610 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows. Issuance of common stock $fill in the blank 1 Payment of dividends $fill in the blank 2
Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows a. Retired $180,000 of bonds, on which there was $1,800 of unamortized discount, for $187,000. b. Sold 7,000 shares of $25 par common stock for $57 per share. c. Sold equipment with a book value of $52,900 for $76,200 d. Purchased land for $420,000 cash. e. Purchased a building by paying $90,000 cash and issuing a $90,000 mortgage note payable. f. Sold a new issue of $210,000 of bonds at 99 g. Purchased 6,00o0 shares of $35 par common stock as treasury stock at $64 per share. h. Paid dividends of $1.50 per share. There were 33,000 shares issued and 5,000 shares of treasury stock. Effect Amount а. b. с. d. е. f. g. h.
3. Vaughn Corporation had the following activities in 2020. 1. Payment of accounts payable $832,000 4. Collection of note receivable $101,000 2. Issuance of common stock $249,000 5. Issuance of bonds payable $543,000 3. Payment of dividends $338,000 6. Purchase of treasury stock $50,000 Compute the amount Vaughn should report as net cash provided (used) by financing activities in its 2020 statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash select an option by financing activities $enter a dollar amount
Prepare the Cash Flow Statement for the year ended 31 December 2022 using info below The information given below was extracted from the accounting records of Excellence Limited Information from the Statement of Financial Position as at 2022 R 2021 R Ordinary share capital 750 000 580 000 Retained earnings 145 000 60 000 Property, plant and equipment (see note) 475 000 410 000 Investments 248 000 220 000 12.5% Debentures 125 000 120 000 Inventory 320 000 260 000 Trade debtors 57 000 67 500 Bank ? Prepaid expenses 15 500 2 500 Trade creditors 60 000 85 000 Bank overdraft 50 000 South African Revenue Services 25 000 40 000 Extract from the Statement of Comprehensive Income for the year ended 31 December 2022 Profit before interest and tax 342 000 Depreciation on equipment 25 000 Dividends received on investment 30 000 Interest on debentures 22 500…
What is the firm's cash flow from financing?