Need general accounting question solution McCorey Corporation recorded the following events last year:Repurchase by the company of its own common stockSale of long-term investmentInterest paid to lendersDividends paid to the company's shareholders$44,000$63,000$17,000$73,000Collection by McCorey of a loan made to another company $49,000Payment of taxes to governmental bodies$27,000On the statement of cash flows, some of these events are classified as operating activities,some are classified as investing activities, and some are classified as financing activities.Based solely on the information above, the net cash provided by (used in) investing activitieson the statement of cash flows would be:A. $98,000B. $126,000C. $112,000D. $63,000

Step 1: Define Investing ActivitiesAll the financial transactions that are incurred by a company by…

Answered: McCorey Corporation recorded the…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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Statement of Cash Flows The following are Mueller Companys cash flow activities: a. Net income, 68,000 b. Increase in accounts receivable, 4,400 c. Receipt from sale of common stock, 12,300 d. Depreciation expense, 11,300 e. Dividends paid, 24,500 f. Payment for purchase of building, 65,000 g. Bond discount amortization, 2,700 h. Receipt from sale of long-term investments at cost, 10,600 i. Payment for purchase of equipment, 8,000 j. Receipt from sale of preferred stock, 20,000 k. Increase in income taxes payable, 3,500 l. Payment for purchase of land, 9,700 m. Decrease in accounts payable, 2,900 n. Increase in inventories, 10,300 o. Beginning cash balance, 18,000 Required: Prepare Mueller Company's statement of cash flows.
In the current year, Harrisburg Corporation collected 100,000 from its customers and paid out 30,000 to suppliers, 20,000 to employees, and 8,000 for income taxes. Using the direct method, prepare the operating activities section of its statement of cash flows based on this information.
Vaden Corp. reported long-term borrowings of $9,400,000, repayments of long-term borrowings of $3,500,000, interest payments of $230,000, repurchase of treasury shares of $150,000, sale of investment securities for $170,000 and cash dividends declared and paid of $95,000. Calculate Vaden’s net cash flow from financing activities.
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:
Moore Company is preparing its statement of cash flows for the current year. During the year, the company retired two issuances of debt and properly recorded the transactions. These transactions were as follows: Paid cash of $12,700 to retire bonds payable with a face value of $15,000 and a book value of $13,300. Paid cash of $48,000 to retire bonds payable with a face value of $45,000 and a book value of $47,000. Required: Record, in journal entry form, the entries that Moore would make for the preceding transactions on its spreadsheet to prepare its statement of cash flows. If an amount box does not require an entry, leave it blank.
ORANGE Corporation reported net income of P 3,000,000 for 2021. Changes occurred in several balance sheet accounts during 2021 as follows: Investment in associate, carried at equity - P 400,000 increase; Premium on bonds payable - P 50,000 decrease; Accumulated depreciation caused by major repair of equipment - P 200,000 decrease; Deferred tax liability - P 150,000 increase. In its 2021 statement of cash flows, how much should be reported as net cash provided (used) by operating activities?
ed information [The following information applies to the questions displayed below.] A recent annual report for BubbliCo contained the following information for the period (dollars in millions): Net income Depreciation and amortization Increase in accounts receivable Increase in inventory Increase in prepaid expense Increase in accounts payable Decrease in taxes payable Increase in other current liabilities Cash dividends paid Share repurchases BUBBLICO Statement of Cash Flows (Partial) $5,144 1,551 569 362 Cash flows from operating activities: Required: 1. Compute cash flows from operating activities for BubbliCo using the indirect method. Note: List cash outflows as negative amounts. Enter your answers in millions. 68 727 199 743 Adjustments to reconcile net income to cash flow from operating activities: 2,559 4,721 $ 0
BTS Inc. has recorded the following transactions on its book for the year 2021. How much total Cash Inflow from financing activities that BTS should reflected on its Statement of Cash Flow:i. Payment for interest of the issued bonds on April 1, 2021, 900.ii. Cash dividend received on the short-term investment, 5,000iii. Depreciation on plant that manufactures goods for sale, 6,000.iv. Payment of income tax on gain on sale of treasury bills, 2,000.v. Issued 500 ordinary shares for 50,000.vi. Received cash from interest on the acquired treasury bonds of BigHit Corp, 2,400.vii. Payment for marketable securities, 12,000
Kela corporation reports net income of 570,000 that includes depreciation expense of 77,000 also cash of 47,000 it was borrowed on a three year note payable based on the data total cash inflows operating activities are
Net income for the year for Tanizaki, Inc. was $750,000,but the statement of cash flows reports that net cash providedby operating activities was $860,000. Tanizaki alsoreported capital expenditures of $75,000 and paid dividendsin the amount of $30,000. Compute Tanizaki’s freecash flow.
Rainey enterprises loaned $50,000 to Small Co. on June 1, Year 1, for one year at 6% interest. Rainey Enterprises loaned $50,000 to Small Co. on June 1, Year 1, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Round your answers to the nearest whole dollar.) (1) The loan to Small Co. (2) The adjusting entry at December 31, Year 1. (3) The adjusting entry and collection of the note on June 1, Year 2. RAINEY ENTERPRISES Horizontal Statements Model Assets Equity Income Statenment Statement of Cash Flow Date Liabilinies Notes Receivable Interest Receivable Retained…
Curwen Inc. reported net cash flow from operating activities of $357,500 on its statement of cash flows for a recent year ended December 31. The following information was reported in the Cash flows from operating activities section of the statement of cash flows, using the indirect method: Decrease in income taxes payable $ 7,700Decrease in inventories 19,140Depreciation 29,480Gain on sale of investments 13,200Increase in accounts payable 5,280Increase in prepaid expenses 2,970Increase in accounts receivable 14,300a. Determine the net income reported by Curwen Inc. for the year ended December 31.b. Briefly explain why Curwen’s net income is different from net cash flow from operating activities.

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