In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information: ($ in millions) Fair value of shares issued in a stock dividend$ 100.0Payment for the early extinguishment of long-term bonds (book value: $89.0 million)94.0Proceeds from the sale of treasury stock (cost: $25.0 million)30.0Gain on sale of land3.4Proceeds from sale of land10.2Purchase of Microsoft common stock158.0Declaration of cash dividends59.0Distribution of cash dividends declared in 202355.0 Required: 1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing 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).

In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information: ($ in millions) Fair value of shares issued in a stock dividend$ 100.0Payment for the early extinguishment of long-term bonds (book value: $89.0 million)94.0Proceeds from the sale of treasury stock (cost: $25.0 million)30.0Gain on sale of land3.4Proceeds from sale of land10.2Purchase of Microsoft common stock158.0Declaration of cash dividends59.0Distribution of cash dividends declared in 202355.0 Required: 1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing 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).

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 14GI: Dunn Company recognized a 5,000 unrealized holding gain on investment in Starbuckss long-term bonds...

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In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the following information: ($ in millions)Fair value of shares issued in a stock dividend $ 65Payment for the early extinguishment oflong-term bonds (book value: $97 million) 102Proceeds from the sale of treasury stock (cost: $17 million) 22Gain on sale of land 4Proceeds from sale of land 12Purchase of Microsoft common stock 160Declaration of cash dividends 44Distribution of cash dividends declared in 2020…
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the following information: ($ in millions) $ 68.0 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: $17.0 million) Gain on sale of land Proceeds from sale of land Purchase of Microsoft common stock Declaration of cash dividends Distribution of cash dividends declared in 2020 86.0 22.0 2.6 7.8 142.0 51.0 47.0 Required: 1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2021? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the following information: ($ in millions) $ 68.0 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 2020 86.0 22.0 2.6 7.8 142.0 51.0 47.0 2. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2021? (Amounts to be deducted 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).)
Swifty Corporation purchased treasury stock with a cost of $38500 during 2022. During the year, the company paid dividends of $14000 and issued bonds payable for proceeds of $613200. Cash flows from financing activities for 2022 total $637700 net cash inflow. $52500 net cash outflow. O $560700 net cash inflow. O $599200 net cash inflow.
Oriole Company purchased treasury stock with a cost of $68200 during 2022. During the year, the company paid dividends of $24800 and issued bonds payable for proceeds of $1086200. Cash flows from financing activities for 2022 total $93000 net cash outflow. $993200 net cash inflow. $1129600 net cash inflow. $1061400 net cash inflow.
Required information Skip to question [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2024, D-Krug Solutions, Incorporated collected the following information: ($ in millions)Payment for the early extinguishments of long-term notes (book value: $62.0 million)$ 66.0Sale of common shares208.0Retirement of common shares130.0Loss on sale of equipment2.8Proceeds from sale of equipment11.2Issuance of short-term note payable for cash18.0Acquisition of building for cash11.0Purchase of marketable securities (not a cash equivalent)13.0Purchase of marketable securities (considered a cash equivalent)9.0Cash payment for 3-year insurance policy11.0Collection of note receivable with interest (principal amount, $19)21.0Declaration of cash dividends48.0Distribution of cash dividends declared in 202345.0 2. In D-Krug’s statement of cash flows, what were net cash inflows (or outflows)…
Subject: accounting
Stansfield Corporation had the following activitles In 2020. 4. Collecton of note recelvable $100,000 1. Payment of accounts payable $770,000 2. IssuancE of common stock $250,000 3. Payment of dividends $350,000 6. Purchase of treasury stock $46,000 Compute the amount Stansheld should report as net cash provlded (used) by financing activities In Its 2020 statement of cash flows. (haw ame Net cash V by financing activities $ LINK TO TET
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.
Spa Essentials Corporation purchased treasury stock with a cost of $54,000 during 2022. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $900,000. Cash flows from financing activities for 2022 total: $880,000 net cash inflow. $826,000 net cash inflow. $675,000 net cash outflow. $550,000 net cash outflow.
Coronary, Inc. had the following transactions during 2020: Purchased new fixed assets for $35,000 Converted $20,000 worth of preferred shares to common shares Received cash dividends of $11,000. Paid cash dividends of $20,000. • Repaid mortgage principal of $17,000 . . . Assuming Coronary follows U.S. GAAP, which of the following amounts represents Coronary's cash flows from investing and cash flows from financing in 2020? Investing: ($35,000); Financing: ($37,000) Investing: ($24,000); Financing: ($26,000) Investing: ($35,000): Financing: ($26,000)
The Q Ltd.provides the following information about its activities in the year 2021.Marketable securities purchased: $45,000Treasury stock purchased: $56,000Inventory purchased: $412,000Land sold: $95,000Machinery purchased: $278,000Common stock issued: $168,000Compute net cash provided by investing activities to be reported in the statement of cash flows of Q Ltd.