Land was acquired for $29,900 in exchange for common stock, par $29.900, during the year, all equipment purchased was for cash.Equipment costing $13,100 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9.900 were declaredand paid during the year.Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign eg.-12.000 or in parenthesis eg. (12,000).)ab.CNet CashNet CashNet CashprovidedSave for LaterusedusedeTextbook and Mediaby operating activities. $by investing activities. $by financing activities.$ The balance sheet data of Marin Company at the end of 2025 and 2024 follow.CashAccounts receivable (net)InventoryPrepaid expensesEquipmentAccumulated depreciation-equipmentLandAccounts payableAccrued expensesNotes payable-bank, long-termBonds payableCommon stock, $10 parRetained earnings2025$30,30054,50065,70015,00089,400$65,10015,200-0-29,700190,2002024(17,880)(8,100)70,30040,400$307,320 $257,5007,120$307,320$34,70045,20045,30025,10074.900$51.70018,00022,700-0-160,3004,800$257.500Land was acquired for $29,900 in exchange for common stock, par $29,900, during the year; all equipment purchased was for cash.Equipment costing $13,100 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9.900 were declaredand paid during the year.Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a sima 17000

Land was acquired for $29,900 in exchange for common stock, par $29.900, during the year, all equipment purchased was for cash. Equipment costing $13,100 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by. (Show amounts that decrease cash flow with either a-sign eg.-12.000 or in parenthesis eg. (12,000)) a b. C Net Cash Net Cash Net Cash provided by operating activities. used used eTextbook and Media $ by investing activities. $ by financing activities. $

Land was acquired for $29,900 in exchange for common stock, par $29.900, during the year, all equipment purchased was for cash. Equipment costing $13,100 was sold for $3,000; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by. (Show amounts that decrease cash flow with either a-sign eg.-12.000 or in parenthesis eg. (12,000)) a b. C Net Cash Net Cash Net Cash provided by operating activities. used used eTextbook and Media $ by investing activities. $ by financing activities. $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Macrosoft Company reports net income of $62,000. The accounting records reveal depreciation expense of $77,000 as well as increases in prepaid rent, accounts payable, and income tax payable of $57,000, $10,000, and $16,500, respectively. Prepare the operating activities section of Macrosoft's statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from operating activities MACROSOFT COMPANY Statement of Cash Flows (partial) Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities
Assume that a company provided the following statement of cash flows (all sales are on account): Operating activities: Net income $ 57 Adjustments to convert net income to a cash basis: Depreciation $ 15 Decrease in accounts receivable 2 Increase in inventory (10) Increase in accounts payable 4 11 Net cash provided by (used in) operating activities 68 Investing activities: Additions to property, plant, & equipment (40) Net cash provided by (used in) investing activities (40) Financing activities: Issuance of common stock 5 Cash dividends paid (26) Net cash provided by (used in) financing activities (21) Net increase in cash and cash equivalents 7 Beginning cash and cash equivalents 6 Ending cash and cash equivalents $ 13 How much is the company’s free cash flow? Multiple Choice $19 $(21) $2 $23
Cash Flows from Operating Activities-Indirect Method The net income reported on the income statement for the current year was $277,000. Depreciation recorded on equipment and a building amounted to $82,800 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $74,240 $78,690 Accounts receivable (net) 94,140 97,100 Inventories 185,600 167,290 Prepaid expenses 10,320 11,100 Accounts payable (merchandise creditors) 82,930 87,820 Salaries payable 11,950 10,940 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flow from operating activities: Changes in current operating assets and…
vint.poha
A company reports net income of $157,000. Included in net income is a gain on the sale of land of $16,000. A comparison of this year's and last year's balance sheets reveals an increase in accounts receivable of $27,000, an increase in inventory of $16,000, and a decrease in accounts payable of $47,00O. Required: Prepare the operating activities section of the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.) Statement of Cash Flows (partial) Cash flows from operating activities: Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities 2$
What amount should be reported as net cash provided by operating 1 po activities? Kollar Corporation reported net income of P6,500,000 for the current year. Changes in certain accounts during the current year are: Investment in Gold shares carried on the equity basis Accumulated depreciaiton, cause by major repair to equipment Unearned interest income Premium on bonds payable 380,000 increase 210,000 decrease 50,000 decrease 120,000 decrease Deferred tax liability 180,000 increase Your answer
Use the following excerpts from Nutmeg Company's financial records to determine net cash flows from operating activities and net cash flows from investing activities. Net income this year Purchased land this year Sold investments this year Original cost of investments that were sold $83,700 20,000 31,500 33,000 PLEASE NOTE: All whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Net cash flows from operating activities Net cash flows from investing activities
year was presented by Condor Company who uses the indirect method to prepare its statement of cash flows: • Plant assets, net—beginning balance: $190,000 • Plant assets, net—ending balance: $220,000 • Equipment costing $52,000 was purchased for cash • Equipment with a net asset value of $100,000 was sold for $90,000 • Depreciation expense of $12,000 was recorded during the year What was the net amount of Cash from investing activities? a. $38,000 negative b. $52,000 negative c. $38,000 positive d. $60,000 positive
Subject: acounting
A building with a book value of $46,349 is sold for $61,396 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of a. $46,349 in the investing activities section and an addition of $15,047 to net income in the operating activities section b. $61,396 in the investing activities section and a deduction of $15,047 from net income in the operating activities section c. $46,349 in the investing activities section d. $61,396 in the investing activities section
Complete the following Spreadsheet for the preparation of statement of cash flows under the indirect method. (The statement of cash flows is not required.) (Enter all amounts as positive values.) Additional information: a. Net income for the year was $105,000. b. Dividends of $90,000 cash were declared and paid. c. The only noncash expense was $75,000 of depreciation. d. Purchased plant assets for $95,000 cash. e. Notes payable of $25,000 were issued for $25,000 cash. f. $55,000 increase in accounts receivable. g. $35,000 decrease in inventory. h. $15,000 decrease in accounts payable. Balance Sheet-Debit Balance Accounts Cash Accounts receivable Inventory Plant assets Balance Sheet-Credit Balance Accounts Accumulated depreciation Accounts payable Notes payable Common stock Retained earnings Statement of Cash Flows Operating activities SCORETECK CORPORATION Spreadsheet for Statement of Cash Flows-Indirect Method For Year Ended December 31, 2021 Investing activities Financing activities…
subject :- Accounting