In 2023, Quintin Corp. reported net income of $254,000. Other transactions included: Depreciation expense $50,000 Amortization of a bond premium 9,500 Income from an equity-method investment 36,000 Dividends received from equity-method investment 0 Purchase of treasury shares 125,000 Paid a dividend on preferred stock 60,000 What is the amount of net cash flows from operations? Group of answer choices $249,500 $258,500 $254,000 $158,500

In 2023, Quintin Corp. reported net income of $254,000. Other transactions included: Depreciation expense $50,000 Amortization of a bond premium 9,500 Income from an equity-method investment 36,000 Dividends received from equity-method investment 0 Purchase of treasury shares 125,000 Paid a dividend on preferred stock 60,000 What is the amount of net cash flows from operations? Group of answer choices $249,500 $258,500 $254,000 $158,500

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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Windsor, Inc. had the following transactions during 2022:1. Issued $215000 of par value common stock for cash.2. Recorded and paid wages expense of $103200.3. Acquired land by issuing common stock of par value $86000.4. Declared and paid a cash dividend of $17200.5. Sold a long-term investment (cost $5160) for cash of $5160.6. Recorded cash sales of $688000.7. Bought inventory for cash of $275200.8. Acquired an investment in Zynga stock for cash of $36120.9. Converted bonds payable to common stock in the amount of $860000.10. Repaid a 6-year note payable in the amount of $378400.What is the net cash provided by operating activities? $524600. $498800. $412800. $309600.
Prepare a statement of cash flows using the information provided below and amounts indicated on the attached template. CD Corporation has the following for 2020: Net Income $145,000 Depreciation was $4,250 Sold Equipment with a Cost of $32,000, Accumulated Depreciation $15,000 for $22,500 Cash. Sold Common Stock of $250,000 Paid a Dividend of $6,500 Balance Sheet Balances 2020 2019 Cash 882,500 425,000 Accounts Receivable 575,500 275,500 Merchandise Inventory 445,000 900,000 Prepaid Expenses 67,500 82,500 Equipment 68,000 100,000 Accumulated Depreciation – Building (29,250) (40,000) Accounts Payable 590,100 737,350 Wages Payable 65,000 40,000 Retained Earnings 254,150 115,650 Common Stock 1,100,000 850,000
Additional information: * All purchases of inventories are on credit * The selling and administrative expenses include depreciation of R320 000 * Property, plant and equipment were purchased during the year but there were no disposals * The total dividends for the year ended 31 December 2021 amounted to R360 000 * The issued share capital consisted of 100 000 ordinary shares * The market price of the shares on 31 December 2021 was R35
Swifty Company purchased treasury stock with a cost of $16500 during 2020. During the year, the company paid dividends of $19600 and issued bonds payable for proceeds of $850000. Cash flows from financing activities for 2020 total $850000 net cash outflow. $846900 net cash inflow. O $813900 net cash inflow. O $830400 net cash inflow.
Ramakrishnan, Incorporated, reported 2024 net income of $20 million and depreciation of $3,400,000. The top part of Ramakrishnan, Incorporated’s 2024 and 2023 balance sheets is reproduced below (in millions of dollars): 2024 2023 2024 2023 Current assets: Current liabilities: Cash and marketable securities $ 25 $ 26 Accrued wages and taxes $ 43 $ 35 Accounts receivable 98 92 Accounts payable 69 60 Inventory 170 144 Notes payable 60 55 Total $ 293 $ 262 Total $ 172 $ 150 Calculate the 2024 net cash flow from operating activities for Ramakrishnan, Incorporated. Note: Enter your answer in dollars not in millions. done
Required information [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information: Fair value of shares issued in a stock dividend Payment for the early extinguishment of long-term bonds (book value: $81.0 million) Proceeds from the sale of treasury stock (cost: $17.0 million) Gain on sale of land Proceeds from sale of land Purchase of Microsoft common stock Declaration of cash dividends Distribution of cash dividends declared in 2023 Cash Flows from Financing Activities: Net cash inflows (outflows) from financing activities ($ in millions) $68.0 2. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).…
On April 12, 2018 corporation made cash distribution of $16,000 and it has current e&p $18,000 and accumulated e&p ($2,000). What is the return of capital after the distribution?
Marigold Corp.had the following transactions during 2022:1. Issued $257500 of par value common stock for cash.2. Recorded and paid wages expense of $123600.3. Acquired land by issuing common stock of par value $103000.4. Declared and paid a cash dividend of $20600.5. Sold a long-term investment (cost $6180) for cash of $6180.6. Recorded cash sales of $824000.7. Bought inventory for cash of $329600.8. Acquired an investment in Zynga stock for cash of $43260.9. Converted bonds payable to common stock in the amount of $1030000.10. Repaid a 6-year note payable in the amount of $453200.What is the net cash provided by investing activities? $436720 ($140080). $889920. ($37080).
9
During 2018, T Company engaged in the following activities: Distribution of cash dividends declared in 2017 $ 48 Fair value of shares issued in a stock dividend 220 Payment to retire bonds 452 Proceeds from the sale of treasury stock (cost: $52) 60 In T's statement of cash flows, what were net cash outflows from financing activities for 2018?
Oriole Companyhad the following transactions during 2022:1. Issued $280000 of par value common stock for cash.2. Recorded and paid wages expense of $134400.3. Acquired land by issuing common stock of par value $112000.4. Declared and paid a cash dividend of $22400.5. Sold a long-term investment (cost $6720) for cash of $6720.6. Recorded cash sales of $896000.7. Bought inventory for cash of $358400.8. Acquired an investment in Zynga stock for cash of $47040.9. Converted bonds payable to common stock in the amount of $1120000.10. Repaid a 6-year note payable in the amount of $492800.What is the net cash provided by investing activities? $474880 ($40320). ($152320). $967680.
Marigold Corporation had the following activities in 2023: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. (a) Sold land for $196,000. Purchased an FV-NI investment in common shares for $14,200. Purchased inventory for $852,000 with cash. Received $73,000 cash from bank borrowings. Received interest for $11,500. Purchased equipment for $483,000 in exchange for common shares. Issued common shares for $370,000 cash. Recorded an unrealized gain of $3,750 on investments accounted for using the FV-NI model. Purchased investments in bonds, reported at amortized cost for $59,600. Declared and paid a dividend of $17,600 (charged to retained earnings). Sold investments in bonds reported at amortized cost, with a carrying amount of $406,800, for $416,200. Received dividends of $5,000 on FV-NI investments. (b) Your answer is correct. Calculate the amount that Marigold should report as net cash provided (used) by investing activities on its statement of cash flows under IFRS. Under IFRS, assume Marigold…

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bartleby, a Learneo, Inc. business

Depreciation expense	$50,000
Amortization of a bond premium	9,500
Income from an equity-method investment	36,000
Dividends received from equity-method investment	0
Purchase of treasury shares	125,000
Paid a dividend on preferred stock	60,000