Lace Company provided the following information during PROBLEMS Problem 10-1 (AICPA Adapted) the current year: 500,000 1,000,000 9,000,000 1,500,000 200,000 2,000,000 6,000,000 400,000 300,000 1,800,000 Dividend received Dividend paid Cash received from customers Proceeds from issuing share capital Interest received Proceeds from sale of long term investments Cash paid to suppliers and employees Interest paid on long term debt Income taxes paid Cash balance, January 1 1. What is the net cash provided by operating activities? a. 3,000,000 b. 3,300,000 c. 2,700,000 d. 2,000,000 2. What is the net cash provided by investing activities? a. 2,500,000 b. 2,000,000 c. 2,200,000 d. What is the net cash provided by financing activitie: a. 1,500,000 b. 1,000,000 500,000 c. d. What is the cash balance on December 31? a. 6,300,000 b. 5,500,000 C. 4,800,000 H. 7,300,000

Lace Company provided the following information during PROBLEMS Problem 10-1 (AICPA Adapted) the current year: 500,000 1,000,000 9,000,000 1,500,000 200,000 2,000,000 6,000,000 400,000 300,000 1,800,000 Dividend received Dividend paid Cash received from customers Proceeds from issuing share capital Interest received Proceeds from sale of long term investments Cash paid to suppliers and employees Interest paid on long term debt Income taxes paid Cash balance, January 1 1. What is the net cash provided by operating activities? a. 3,000,000 b. 3,300,000 c. 2,700,000 d. 2,000,000 2. What is the net cash provided by investing activities? a. 2,500,000 b. 2,000,000 c. 2,200,000 d. What is the net cash provided by financing activitie: a. 1,500,000 b. 1,000,000 500,000 c. d. What is the cash balance on December 31? a. 6,300,000 b. 5,500,000 C. 4,800,000 H. 7,300,000

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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In which years do each company have acceptable cash ratios? What has to be done in the other years when they are not acceptable?