In preparation for developing its statement of cash flows for the year just ended, D-Rose Distributors collected the following information: Purchase of treasury bills (considered a cash equivalent) Sale of preferred stock Gain on sale of land Proceeds from sale of land Issuance of bonds payable for cash Purchase of equipment for cash Purchase of GE stock Declaration of cash dividends Payment of cash dividends declared in previous year Purchase of treasury stock Payment for the early extinguishment of long-term notes (carrying (book) value: $100 million) 1. 2. ($ in millions) 6.8 150.8 4.8 25.8 140.8 30.8 35.8 million million 134.8 130.8 120.8 Required: 1. Prepare the investing activities section of D-Rose's statement of cash flows. 2. Prepare the financing activities section of D-Rose's statement of cash flows. (For all requirements, list any cash outflow with a minus sign. Enter your answers in millions rounded to 1 decimal place ( 5,500,000 should be entered as 5.5).) 110.8

In preparation for developing its statement of cash flows for the year just ended, D-Rose Distributors collected the following information: Purchase of treasury bills (considered a cash equivalent) Sale of preferred stock Gain on sale of land Proceeds from sale of land Issuance of bonds payable for cash Purchase of equipment for cash Purchase of GE stock Declaration of cash dividends Payment of cash dividends declared in previous year Purchase of treasury stock Payment for the early extinguishment of long-term notes (carrying (book) value: $100 million) 1. 2. ($ in millions) 6.8 150.8 4.8 25.8 140.8 30.8 35.8 million million 134.8 130.8 120.8 Required: 1. Prepare the investing activities section of D-Rose's statement of cash flows. 2. Prepare the financing activities section of D-Rose's statement of cash flows. (For all requirements, list any cash outflow with a minus sign. Enter your answers in millions rounded to 1 decimal place ( 5,500,000 should be entered as 5.5).) 110.8

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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The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Net income for the year Cash dividends declared for the year Cash dividends payable at the beginning of the year Cash dividends payable at the end of the year 325,000 61,000 13,800 16,700 What is the amount of cash dividends paid that should be reported in the financing section of the statement of cash flows? Multiple Choice $61000 $63,900
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