Dividend received 500,000 Dividend paid 1,000,000 Cash received from customers 9,000,000 Proceeds from issuing share capital 1,500,000 Interest received 200,000 Proceeds from sale of long term investments 2,000,000 Cash paid to suppliers and employees 6,000,000 Interest paid on long tem debt 400,000 Income taxes paid 300,000 Cash balance January 1 1,800,000

Dividend received 500,000 Dividend paid 1,000,000 Cash received from customers 9,000,000 Proceeds from issuing share capital 1,500,000 Interest received 200,000 Proceeds from sale of long term investments 2,000,000 Cash paid to suppliers and employees 6,000,000 Interest paid on long tem debt 400,000 Income taxes paid 300,000 Cash balance January 1 1,800,000

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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Question

B. Multiple Choice with Computation
1. Ribbon Company provided the following information during the current year:
Dividend received
500,000
Dividend paid
1,000,000
Cash received from customers
9,000,000
Proceeds from issuing share capital
1,500,000
Interest received
200,000
Proceeds from sale of long term investments
2,000,000
Cash paid to suppliers and employees
6,000,000
Interest paid on long tem debt
400,000
Income taxes paid
300,000
Cash balance January 1
1,800,000
1a. What is the net cash provided by operating activities?
a. 3,000,000 b. 3,300,000
c. 2,700,000
d. 2,000,000
1b. What is the net cash provided by investing activities?
a. 2,500,000
b. 2,000,000
c. 2,200,000
d. -0-
1c.. What is the net cash provided by financing activities?
a. 1,500,000
b. 1,000,000
c. 500,000
d. -0-
1d. What is the cash balance on December 31?
a. 6,300,000
b. 5,500,000
c. 4,800,000
d. 7,300,000

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