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 $ 31,800 44, 400 165, 200 11,800 73,600 (15,800) $ 311,000 Net cash flow from financing activities $ 17,600 91,800 141, 800 59,800 $311, 000 Required: Calculate Diaz's cash flow from financing activities for Year 2. Note: Enter cash outflows with a minus sign. Year 1 $ 29,800 48, 200 157,800 11, 600 58, 200 (6,400) $ 299, 200 Diaz reported net income for Year 2 of $41,800. 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. $ 19,800 121,800 121,800 35,800 $ 299, 200
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 $ 31,800 44, 400 165, 200 11,800 73,600 (15,800) $ 311,000 Net cash flow from financing activities $ 17,600 91,800 141, 800 59,800 $311, 000 Required: Calculate Diaz's cash flow from financing activities for Year 2. Note: Enter cash outflows with a minus sign. Year 1 $ 29,800 48, 200 157,800 11, 600 58, 200 (6,400) $ 299, 200 Diaz reported net income for Year 2 of $41,800. 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. $ 19,800 121,800 121,800 35,800 $ 299, 200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
$ 31,800
44, 400
165, 200
11,800
73,600
(15,800)
$ 311,000
Net cash flow from financing activities
$ 17,600
91,800
141, 800
59,800
$311, 000
Required:
Calculate Diaz's cash flow from financing activities for Year 2.
Note: Enter cash outflows with a minus sign.
Year 1
$ 29,800
48, 200
157,800
11, 600
58, 200
(6,400)
$ 299, 200
Diaz reported net income for Year 2 of $41,800. 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.
$ 19,800
121,800
121,800
35,800
$ 299, 200
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