Parker & Associates was recently formed with a $7,500 investment in the company by stockholders in exchange for common stock. The company then borrowed $4,000 from a local bank, purchased $1,500 of supplies on account, and also purchased $7,800 of equipment by paying $2,800 in cash and signing a promissory note for the balance. Based on these transactions, the company's total assets are
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- Park & Company was recently formed with a $6,400 investment in the company by stockholders in exchange for common stock. The company then borrowed $3,400 from a local bank, purchased $1,140 of supplies on account, and also purchased $6,400 of equipment by paying $2,140 in cash and signing a promissory note for the balance. Based on these transactions, the company's total assets are: Multiple Choice $9,800. $15,200. $12,800. $11,940.You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $800,000, accounts receivable = $1,600,000, inventory = $2,100,000, accrued wages and taxes = $570,000, accounts payable = $870,000, and notes payable = $670,000. Calculate Goodman Bees' net working capital. (Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount.) Net working capitalOakdale Company borrowed $1,960,000 cash from Eugene National Bank last year. In addition, the company repaid a $1,260,000 note payable to Michigan State Bank. How should these transactions be listed in the Statement of Cash Flows? Multiple Choice Oakdale can combine the transactions and show an increase to cash of $700,000 In the investing activities section of the statement. Oakdale can combine the transactions and show an increase to cash of $700,000 in the financing activities section of the statement. A decrease to cash for $1,260,000 is listed in the investing activities section and an increase of $1,960,000 is in the financing activities section. Transactions must be shown separately as a decrease to cash for $1,260,000 and an increase of $1,960,000 in the financing activities section.
- During 20X6, LAL Corp. had the following cash flows: (1) received cash of $10,000 billed to a customer in 20X6; (2) earned $120,000 of net income; (3) paid interest of $15,000 on a corporate bond issue; (4) paid dividends of $30,000 to its stockholders; (5) borrowed $150,000 from a local bank; and (6) purchased its own shares of common stock for $50,000. What is LAL's net cash flows from financing activities for 20X6?You are evaluating the balance sheet for Goodman bees corporation from the balance sheet you find the following balances cash and marketable securities equal $400,000, account receivable equals $1,200,000, Inventory equals $2,100,000 acured wages and taxes $500,000 accounts payable $800,000 notes payable $600,000 calculate goodman bees networking capital. answer in dollars not millions round your answer to the nearest dollar amount networking capitalXYZ Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during 2021: January 1 cash balance 1,000,000 Cash receipts from issuance of ordinary shares 1,208,000 Cash receipts from customers 1,640,000 Proceeds from sale of treasury shares (cost – P720,000) 800,000 Cash receipts from dividends on long-term investments 80,000 Cash receipts from repayment of loan made to another company 640,000 Cash payments to suppliers 1,080,000 Cash paid to redeem own shares 1,200,000 Cash paid for interest on long-term notes 120,000 Cash payments for operating expenses 320,000 Cash payments for dividends 200,000 Cash payment for income taxes 144,000 Cash paid to purchase land 1,040,000 Required: Prepare statement of cash flows at December 31, 2021.
- Kaze Corporation's cash and cash equivalents consist of cash and marketable securities. Last year the company's cash account increased by $25,000 and its marketable securities account decreased by $15,000. Net cash provided by (used in) operating activities was $38,000. Net cash provided by (used in) investing activities was $9,000. Based on this information, the net cash provided by (used in) financing activities on the statement of cash flows was $(47,000). O $47,000. $(37,000). $37,000.Yokum Company had the following transactions for 20X1. o Payments of dividends - $11,250 o Depreciation expense - $22,500 o Income taxes paid - $27,000 o Proceeds received from sale of equipment - $225,000 o Utilities paid - $6,750 o Interest paid on note to local bank - $5,625 o Proceeds from issuance of common stock - $56,250 o Collections on accounts receivable - $337,500 o Payments on inventory - $168,750 o Payments for wages and salaries - $78,750 Using the transactions above, compute the net cash flow from operating activities. negative $523,125 Opositive $225,000 positive $523,125 negative $225,000 O negative $50,625 positive $50,625Answer this question correctly and accurately.
- Rush Corporation borrowed $25,000 from the bank. Which of the following accurately shows the effects of the transaction?Augusta Company reported that its bonds with a face value of $62,000 and a carrying value of $56,000 are retired for $62,000 cash. The amount to be reported under cash flows from financing activities is: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…