Diaz Company had the following comparative balance sheet information at the end of Year 2 and Year 1:Diaz CompanyComparative Balance SheetsCashAccounts receivableInventoryPrepaid insuranceProperty, plant and equipmentAccumulated depreciationTotalAccounts payableBonds payableCommon stockRetained earningsTotalYear 2$ 31,90044,200165,60011,90073,800(15,900)$ 311,500$ 17,80091,900141,90059,900$ 311,500Net cash flow from financing activitiesRequired:Calculate Diaz's cash flow from financing activities for Year 2.Note: Enter cash outflows with a minus sign.Year 1$ 29,90048, 100157,90011,80058,100(6,200)$299,600Diaz reported net income for Year 2 of $41,900. There were no sales or disposals of property, plant, and equipment during the year.Diaz uses the indirect method to prepare the statement of cash flows.$ 19,900121,900121,90035,900$ 299,600

Cash flow from Financing activities: It include transactions relating to the debt, equity, and…

Diaz Company had the following comparative balance sheet information at the end of Year 2 and Year 1: Diaz Company Comparative Balance Sheets Cash Accounts receivable Inventory Prepaid insurance Property, plant and equipment Accumulated depreciation Total Accounts payable Bonds payable Common stock Retained earnings Total Year 2 $ 31,900 44,200 165,600 11,900 73,800 (15,900) $ 311,500 Net cash flow from financing activities $ 17,800 91,900 141,900 59,900 $ 311,500 Required: Calculate Diaz's cash flow from financing activities for Year 2. Note: Enter cash outflows with a minus sign. Year 1 $ 29,900 48,100 157,900 11,800 58,100 (6,200) $ 299,600 Diaz reported net income for Year 2 of $41,900. There were no sales or disposals of property, plant, and equipment during the year. Diaz uses the indirect method to prepare the statement of cash flows. $ 19,900 121,900 121,900 35,900 $ 299,600

Diaz Company had the following comparative balance sheet information at the end of Year 2 and Year 1: Diaz Company Comparative Balance Sheets Cash Accounts receivable Inventory Prepaid insurance Property, plant and equipment Accumulated depreciation Total Accounts payable Bonds payable Common stock Retained earnings Total Year 2 $ 31,900 44,200 165,600 11,900 73,800 (15,900) $ 311,500 Net cash flow from financing activities $ 17,800 91,900 141,900 59,900 $ 311,500 Required: Calculate Diaz's cash flow from financing activities for Year 2. Note: Enter cash outflows with a minus sign. Year 1 $ 29,900 48,100 157,900 11,800 58,100 (6,200) $ 299,600 Diaz reported net income for Year 2 of $41,900. There were no sales or disposals of property, plant, and equipment during the year. Diaz uses the indirect method to prepare the statement of cash flows. $ 19,900 121,900 121,900 35,900 $ 299,600

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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