In Year 2, Lansing Company purchased equipment for $357,000 and also sold some special purpose machinery with a book value of $152,600 for$177,000. In its statement of cash flows for Year 2, the company should report the following with respect to the above transactions:5Multiple Choice$180,000 net cash used by investing activities.Jhm$357,000 net cash used by investing avities.$180,000 net cash used by investing activities; $24,400 net cash provided by operating activities.$357,000 cash used by investing activities; $177,000 cash provided by financing activities.

The cash flow statement is prepared to record the cash flow from various activities during the…

m Year 2, Lansing Company purchased equipment for $357,000 and also sold some special purpose machinery with a book value $177,000. In its statement of cash flows for Year 2, the company should report the following with respect to the above transactions: Multiple Choice $180,000 net cash used by investing activities. Sury $357,000 net cash used by investing abities.

m Year 2, Lansing Company purchased equipment for $357,000 and also sold some special purpose machinery with a book value $177,000. In its statement of cash flows for Year 2, the company should report the following with respect to the above transactions: Multiple Choice $180,000 net cash used by investing activities. Sury $357,000 net cash used by investing abities.

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

Selected information from Peridot Corporation's accounting records and financial statements for 2021 is as follows ($ in millions): Cash paid to acquire machinery Reacquired Peridot common stock Proceeds from sale of land. Gain from the sale of land Investment revenue received Cash paid to acquire office equipment Multiple Choice In its statement of cash flows, Peridot should report net cash outflows from investing activities of: $28 million. $33 59 Prey 92 48 71 87 1 of 10 www. www. Next
Prepare Cashflow Statement for ABC company from the following information. Showing your workings. (Unit: CU1000)
Cop
Shepherd Nonprofit had the following information related to its investment balances during the fiscal year ended June 30, 2021. Beginning investments $1,200,000 en Ending investments $1,460,000 Purchases of investments $500,000 Proceeds from sale of investments $220,000 Realized loss on sale of investments $30,000 Report the section(s) in the statement of cash flows (using the indirect method) where investment transactions would appear, including the direction and amount associated with each.
Use the following company information to calculate net cash provided or used by investing activities. (a) Long-term investments were sold for $51,000 cash, yielding a gain of $22,150. (b) Paid $72,000 cash for new machinery. (c) Sold land costing $34,000 for $40,000 cash, yielding a $6,000 gain. (d) Equipment with a book value of $195,000 and an original cost of $320,000 was sold at a loss of $27,000. Statement of Cash Flows (partial) Cash flows from investing activities
1. 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 $83,700 Purchased land this year 20,000 Sold investments this year 31,500 Original cost of investments that were sold 33,000 PLEASE NOTE: All whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Net cash flows from operating activities? Net cash flows from investing activities?
Shown below are totals of the three sections from the SCF for the Sivad Motel for the year just ended. Analyze this information and prepare a report indicating your opinion regarding its sources and uses of cash and their impact on the future of the company. Your conclusions and recommendations should be supported with proper explanations and assumptions. Statement of Cash Flows Net cash provided by operating activities $10,000 Net cash used by investing activities (15,000) Net cash used by financing activities (5,000) Decrease in cash for the year (10,000) Cash at beginning of year 15,000 Cash at end of…
Equipment with a boom value of 9,000 is sold for 4,000 cash. The statement of cash flows will report a A. 4,000 cash inflow in the investing activities section B. 5,000 cash outflow in the finadning actigiites section C. 5;000 cash outflow in the operating activities section D. 4,000 cash inflow in the operating activities section
For the year ended December 31, Year 1, Fields Company made cash payments of $53,200 for dividends, paid interest of $22,000, paid $31,200 cash to suppliers, and purchased equipment for $69,200 cash. What is the net cash used by investing activities for Year 1? Multiple Choice $175.600 $113.200 $69.200 $75.200
Kela Corporation reports net income of $510,000 that includes depreciation expense of $85,000. Also, cash of $46,000 was borrowed on a 3-year note payable. Based on this data, total cash inflows from operating activities are: Multiple Choice O $641,000. $595,000. O $556,000 $425,000
The following events occurred last year at Dorder Corporation: Purchase of plant and equipment Sale of long-term investment $ 45,000 Depreciation expense $ 24,000 Dividends received on long- $ 9,000 term investments Paid off bonds payable $ 12,000 $ 32,000 Based on the above information, the net cash provided by (used in) investing activities for the year on the statement of cash flows would be:
The following income statement was drawn from the annual report of Newtown Company: Cash revenue $ 69,800 Depreciation expense (24,900) Accrued interest expense (10,400) Cash operating expenses (29,700) Operating income 4800 Gain on sale of equipment 2600 Net income $ 7400 What is the net cash flow from operating activities? Group of answer choices $40,100 $42,700 $35,300 $32,700 Training