Problem 17-37 (AICPA Adapted) Lax Company provided the following information during the current year. Dividend received Dividend paid Cash received from customers Proceeds from issuing share capital Interest received Proceeds from sale of long term investments Cash paid to suppliers and employees Interest paid on long term debt Income taxes paid Cash balance, beginning 500,000 1,000,000 9,000,000 1,500,000 200,000 2,000,000 6,000,000 400,000 300,000 1,800,000 1. What is the net cash provided by operating activities for the current year using direct method? a. 3,000,000 b. 3,300,000 c. 2,700,000 d. 2,000,000 2. What is the net cash provided by investing activities? a. 2,500,000 b. 2,000,000 с. 2,200,000 d. 0. 3. What is the net cash provided by financing activities? a. 1,500,000 b. 1,000,000 500,000 d. c. 4. What is the cash balance at year-end?

Problem 17-37 (AICPA Adapted) Lax Company provided the following information during the current year. Dividend received Dividend paid Cash received from customers Proceeds from issuing share capital Interest received Proceeds from sale of long term investments Cash paid to suppliers and employees Interest paid on long term debt Income taxes paid Cash balance, beginning 500,000 1,000,000 9,000,000 1,500,000 200,000 2,000,000 6,000,000 400,000 300,000 1,800,000 1. What is the net cash provided by operating activities for the current year using direct method? a. 3,000,000 b. 3,300,000 c. 2,700,000 d. 2,000,000 2. What is the net cash provided by investing activities? a. 2,500,000 b. 2,000,000 с. 2,200,000 d. 0. 3. What is the net cash provided by financing activities? a. 1,500,000 b. 1,000,000 500,000 d. c. 4. What is the cash balance at year-end?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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