For 20X1, MAP Inc. had net income of $8,100 and collected thefollowing information:Received dividends$1,200Decrease in merchandise inventory1,800Decrease in long-term notes payable3,200Increase in retained earnings6,100Cash received from sale of equipment 3,500Issued common stock for cash3,700Based on this information, what is MAP's net cash provided (used)by financing activities for 20X1?$500($1,500)($2,200)$3,700D

Step 1:Computation of the net cash provided (used) by financing activities for 20X1:Cash flows from…

Answered: For 20X1, MAP Inc. had net income of…

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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A company reported net income of $250,000. Beginning balances in Accounts Recelvable and Accounts Payable were $20,000 and $21,000 respectively. Ending balances in these accounts were $10,500 and $29,000, respectively. Assuming that all relevant information has been presented, what is the company's net cash flows from operating activities? Multiple Cholce $259,500. $232,500. $267,500. $250,000.
Use the following information to calculate the net cash provided or used by financing activities. (a) Paid $29,800 cash to settle long-term notes payable at its $29,800 maturity value. (b) Acquired machinery for $12,900 cash. (c) Paid cash dividend of $13,900. (d) Net Income was $10,900. (e) Issued common stock for $40,900 cash. Statement of Cash Flows (partial) Cash flows from financing activities
Mazaya Company has the following information available: Net Income R.O. 37,500; Cash Provided by Operations R.O. 46,500; Cash Sales R.O. 97,500; Capital Expenditures R.O.16,500; Dividends Paid R.O. 4,500. What is Mazaya's free cash flow?
Mazaya Company has the following information available: Net Income R.O. 55,000; Cash Provided by Operations R.O. 68,200; Cash Sales R.O. 143,000; Capital Expenditures R.O.24,200; Dividends Paid R.O. 6,600. What is Mazaya's free cash flow? Select one: a. R.O.61,600 b. R.O.37,400 c R.O.44,000 d. R.O.24,200
russell co reports sales revenue of 30000 and interest revenue of 5000. it comparative balance sheet show that accounts recievable decrease 4000 and interest recievable increased 1000 compute cash provided by operating activities using the direct method
The following items appeared on the financial statements of Washington Company. Line Item Description Amount Accounts receivable, January 1 $13,395 Accounts receivable, December 31 6,901 Accounts payable, January 1 5,645 Accounts payable, December 31 8,721 Inventory, January 1 6,686 Inventory, December 31 16,260 Sales 73,071 Cost of goods sold 34,443 Washington Company uses the direct method to report cash flows from (used for) operating activities. Assume that all accounts payable are owed to merchandise suppliers. Cash payments for merchandise were
K73.
Kaze Corporation's cash and cash equivalents consist of cash and marketable securities. Last year the company's cash account increased by $25,000 and its marketable securities account decreased by $15,000. Net cash provided by (used in) operating activities was $38,000. Net cash provided by (used in) investing activities was $9,000. Based on this information, the net cash provided by (used in) financing activities on the statement of cash flows was $(47,000). O $47,000. $(37,000). $37,000.

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