**Metlock Inc. Cash Transactions in 2017**Metlock Inc. engaged in the following cash transactions during 2017:- **Sale of land:** $194,000- **Purchase of treasury stock:** $33,000- **Issuance of common stock:** $116,000- **Payment of cash dividends:** $57,000- **Purchase of equipment:** $107,000- **Retirement of bonds:** $73,000**Task: Determine the cash flow from investing activities for 2017.** *Note: Show amounts that decrease cash flow with either a minus sign (e.g., -15,000) or in parentheses (e.g., (15,000)).* **Determine the cash flow from investing activities for 2017.** *(Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)*---**METLOCK INC.****Statement of Cash Flows (Partial)**[Dropdown menu]1. [Dropdown menu] $ [Textbox]2. [Dropdown menu] $ [Textbox]3. [Dropdown menu] $ [Textbox]---At the bottom, there is a line for total, indicated by: **$ [Textbox]**This form is designed for users to input data related to cash flow from investing activities, showing both increases and decreases in cash flow for the specified year.

Introduction: Statement of cash flows: All cash in and outflows are shown in cash flow statement. It…

Answered: Metlock Inc. engaged in the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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APS Company issued 20,000 shares of $1 par common stock for $40 per share during 2017. The company paid cash dividends of $48,000, sold an old machine for $3000 and issued long-term notes payable of $440,000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows? $1.195,000 net cash inflow. $352,000 net cash inflow. $705,000 net cash outflow. $1,192,000 net cash inflow.
Statement of Cash FlowPresented below are the financial statements for the Amphlett Corporation, as of year-end 2012 and 2013. AMPHLETT CORPORATIONConsolidated Balance Sheets As of Year-End ($ thousands) 2013 2012 Assets Current Cash $18,000 $108,000 Marketable securities 240,000 - Accounts receivable (net) 708,000 528,000 Inventory 720,000 738,000 Total current assets 1,686,000 1,374,000 Noncurrent Long-term investments 372,000 468,000 Property & equipment 2,160,000 1,320,000 Less: Accumulated depreciation (600,000) (600,000) Property & equipment (net) 1,560,000 720,000 Intangibles (net) 114,000 126,000 Total noncurrent assets 2,046,000 1,314,000 Total assets $3,732,000 $2,688,000 Liabilities & Shareholders' Equity Accounts payable $1,080,000 $1,020,000 Short-term bank debt 228,000 - Total liabilities 1,308,000 1,020,000…
The following summary transactions occurred during the year for Daisy. Cash received from: Collections from customers $386,000 Interest on notes receivable 9,000 Collection of notes receivable 56, 000 Sale of investments 33,000 Issuance of notes payable 106,000 Cash paid for: Purchase of inventory 166, 000 Interest on notes payable 8,000 Purchase of equipment 91,000 Salaries to employees 96,000 Payment of notes payable 28,000 Dividends to shareholders 1,000 Required: Calculate net cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.)
On year 2012, Prem Company has the ff financial operation information: Payment for the early retirement of bonds payable (carrying amount, USD15,600,000) USD 15, 700, 000 Distribution of cash dividend for 2012 to preferred shareholders (declared in 2011) 800,000 Proceeds from reissuance of treasury shares (cost of USD 930, 000) 1, 050, 000 How much should be reported as net cash used in financing operations in the 2012 statement of cash flows?
Bonita Company issued common stock for proceeds of $376000 during 2020. The company paid dividends of $73000 and issued a long-term note payable for $98000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $16000. The financing section of the statement of cash flows will report net cash inflows of $360000. O $287000. O $465000. O $303000.
During the current year, Royal Industries sold treasury stock for $32.000 cash. The treasury stock was purchased last year for $28,000. The company also issued bonds payable for $430,000 cash and declared and paid dividends of S40,000. What amount did Royal report on its statement of cash flows for cash provided by financing activities? O 390,000 O 394,000 $422,000 O $434,000
create a statement of cash flows with the given information: Scruggs, Inc. Balance Sheet December 31, 2017 2016 Cash $17,000 $12,000 Account receivable 60,000 40,000 Inventory 84,000 70,000 Prepaid expenses 6,000 4,000 Property, Plant & Equipment 250,000 210,000 Accumulated depreciation (60,000) (48,000) $357,000 $288,000 Accounts payable $35,000 $40,000 Interest payable 3,000 4,000 Income taxes payable 22,000 12,000 Bonds payable (due in 2020) 90,000 64,000 Common Stock $5 par 95,000 80,000 Retained Earnings 112,000 88,000 $357,000 $288,000…
During 2018, T Company engaged in the following activities: Distribution of cash dividends declared in 2017 $ 48 Fair value of shares issued in a stock dividend 220 Payment to retire bonds 452 Proceeds from the sale of treasury stock (cost: $52) 60 In T's statement of cash flows, what were net cash outflows from financing activities for 2018?
Minibikes, Inc. identified the following selected transactions that occurred during the year ended December 31, 2024 Identify any non-cash transactions that occurred during the year, and show how they would be reported in the non-cash investing and financing activities section of the statement of cash flows. a. Issued 900 shares of $4 par common stock for cash of $24,000. b. Issued 5,300 shares of $4 par common stock for a building with a fair market value of $95,000. c. Purchased new truck with a fair market value of $33,000.Financed it 100% with a long-term note. d. Retired short-term notes of $24,000 by issuing 2,500 shares of $4 par common stock. e. Paid long-term note of $12,000 to Bank of Tallahassee. Issued new long-term note of $22,000 to Bank of Trust
During 2020, Simms Company redeemed $2,000,000 of bonds payable for $1,880,000 cash. Indicate how this transaction would be reported on a statement of cash flows, if at all.
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.
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Metlock Inc. engaged in the following cash transactions during 2017. Sale of land $ 194,000 Purchase of treasury stock 33,000 Issuance of common stock 116,000 Payment of cash dividends 57,000 Purchase of equipment 107,000 Retirement of bonds 73,000