Enter formulas in cells that contain question marks (only use formulas). After entering formulas in all of the cells that contain question marks, verify that the amounts match the example below. (a) Calculate operating cash flows Sell inventory to customers$86,000Earn interest on investments2,000Purchase inventory(38,000)Pay salaries(39,000)Net operating cash flows$11,000(a) Calculate investing cash flows Sell land$98,000Sell patent61,000Purchase equipment(180,000)Net investing cash flows$(21,000)(c) Calculate financing cash flows Issue common stock$75,000Issue notes payable53,000Purchase treasury stock(40,000)Repay notes payable(30,000)Pay dividends(15,000)Net financing cash flows$43,000(d) Calculate ending cash Beginning cash$53,000Net operating cash flows11,000Net investing cash flows(21,000)Net financing cash flows43,000Ending cash$86,000Check your worksheet setup and formulas by changing both the 'Issue common stock' and the beginning cash balance to $50,000. You should now have Net financing cash flows of $18,000 and an ending Cash balance of $58,000. If you do not have these results, check your spreadsheet and formulas and try again. Given Information:*Inflows:Issue common stock$75,000(a) Calculate operating cash flows??Sell inventory to customers86,000??Issue notes payable53,000??Sell land98,000??Earn interest on investments2,000Net operating cash flows?Sell patent61,000(b) Calculate investing cash flowsOutflows:??Purchase equipment$180,000??Purchase inventory38,000??Purchase treasury stock40,000Net investing cash flows?Repay notes payable30,000Pay salaries39,000(c) Calculate financing cash flowsPay dividends15,000??Beginning cash$53,000????????Net financing cash flows?(d) Calculate ending cash????????Ending cash?

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Answered: Given Information:* Inflows: Issue…

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

Enter formulas in cells that contain question marks (only use formulas). After entering formulas in all of the cells that contain question marks, verify that the amounts match the example below.

(a) Calculate operating cash flows

Sell inventory to customers	$86,000
Earn interest on investments	2,000
Purchase inventory	(38,000)
Pay salaries	(39,000)
Net operating cash flows	$11,000

(a) Calculate investing cash flows

Sell land	$98,000
Sell patent	61,000
Purchase equipment	(180,000)
Net investing cash flows	$(21,000)

(c) Calculate financing cash flows

Issue common stock	$75,000
Issue notes payable	53,000
Purchase treasury stock	(40,000)
Repay notes payable	(30,000)
Pay dividends	(15,000)
Net financing cash flows	$43,000

(d) Calculate ending cash

Beginning cash	$53,000
Net operating cash flows	11,000
Net investing cash flows	(21,000)
Net financing cash flows	43,000
Ending cash	$86,000

Check your worksheet setup and formulas by changing both the 'Issue common stock' and the beginning cash balance to $50,000. You should now have Net financing cash flows of $18,000 and an ending Cash balance of $58,000. If you do not have these results, check your spreadsheet and formulas and try again.