QS 12-14 (Algo) Computing financing cash flows LO P3 Indicate the effect, if any, that each separate transaction has on financing cash flows. (Select "No Effect" if there is no effect) a. Long-term notes payable with a carrying value of $17,000 are retired for $19,000 cash, resulting in a $2,000 loss b. Paid cash dividends of $13,000 to common stockholders. c. Acquired $22,000 worth of machinery in exchange for common stock. a Long-term notes payable Dividends Machinery Amount Effect on financing

QS 12-14 (Algo) Computing financing cash flows LO P3 Indicate the effect, if any, that each separate transaction has on financing cash flows. (Select "No Effect" if there is no effect) a. Long-term notes payable with a carrying value of $17,000 are retired for $19,000 cash, resulting in a $2,000 loss b. Paid cash dividends of $13,000 to common stockholders. c. Acquired $22,000 worth of machinery in exchange for common stock. a Long-term notes payable Dividends Machinery Amount Effect on financing

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Description: Aa 156. QS 12-14 (Algo) Computing financing cash flows LO P3Indicate the effect, if any, that each separate transaction has on financing cash flows. (Select "No Effect if there is no effect)a. Long-term notes payable with a carrying value of $17,000

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.24MCE

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1 2:01:48 look int rences Exercise 12-1 (Algo) Indirect: Classifying Cash flows LO C1 Indicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the a column(s). Note: More than one column may be used. a. Purchased treasury stock with cash b. Accounts receivable decreased in the year c. Issued bonds in return for cash d. Inventory increased in the year e. Recorded depreciation expense 1. Purchased land by issuing common stock g. Prepaid expenses increased in the year h. Purchased a building with cash 1. Sold merchandise to customer for cash j. Received a cash dividend from investment Operating Investing Activities Activities X Statement of Cash Flows [x Financing Activities Noncash Investing & Financing Activities Not Reported on Statement or in Notes
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Check n QS 12-9 (Algo) Computing investing cash flows LO P3 Indicate the effect each separate transaction has on investing cash flows. (Amounts to be deducted should be indicated with a minus sign.) a. Sold a truck costing $42,000, with $22,800 of accumulated depreciation, for $8,800 cash. The sale results in a $10,400 loss. b. Sold a machine costing $11,400, with $8,400 of accumulated depreciation, for $5,800 cash. The sale results in a $2,800 gain. c. Purchased stock investments for $18,000 cash. The purchaser believes the stock is worth at least $30,800. Cash flows from investing activities Co search 99+ 70°F Cloudy DI -> "brt se back T PI G K MI
ces Exercise 12-1 (Algo) Indirect: Classifying Cash flows LO C1 Indicate where each item would appear on a statement of cash flows using the indirect method by placing an X in the appropriate column(s). Note: More than one column may be used. a. Purchased treasury stock with cash b. Inventory increased in the year c Issued bonds in return for cash d. Accounts payable decreased in the year e. Income taxes payable increased in the year f. Purchased land by issuing common stock g. Sold merchandise to customer for cash h. Purchased a building with cash i. Received a cash dividend from investment Statement of Cash Flows Operating Investing Financing Activities Activities Activities Dini # Noncash Investing & Financing. Activities Navt Not Reported on Statement or in Notes
Exercise 12-12 (Algo) Indirect: Preparing statement of cash flows LO P2, P3, A1 Skip to question [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INCORPORATED Comparative Balance Sheets At June 30 2021 2020 Assets Cash $ 97,900 $ 60,000 Accounts receivable, net 89,000 67,000 Inventory 79,800 110,500 Prepaid expenses 6,000 8,600 Total current assets 272,700 246,100 Equipment 140,000 131,000 Accumulated depreciation—Equipment (35,000) (17,000) Total assets $ 377,700 $ 360,100 Liabilities and Equity Accounts payable $ 41,000 $ 54,000 Wages payable 7,600 18,200 Income taxes payable 5,000 7,000 Total current liabilities 53,600 79,200 Notes payable (long term) 46,000 76,000 Total liabilities 99,600 155,200 Equity Common stock, $5 par value 252,000 176,000 Retained earnings 26,100 28,900 Total liabilities and equity $ 377,700 $…
ts ellook Print ferences Determine whether each of the following events results in an inflow or outflow of cash. Required: For those that affect cash, state whether the inflow or outflow would be considered an operating, investing, or financing cash flow under GAAP Note: If there is no effect select "No effect" from the dropdown. 1. A bond with a face value of $1,000,000 is issued for $960,000. 2. At year-end, $45,000 accrued interest payable is recorded and $1,000 of the bond discount is amortized 3. Early in the second year, the accrued interest recorded in requirement (2) is paid. 4. The debt matures at the end of the fifth year. Effect on Cash Flows
Check my work QS 12-16 (Algo) Computing cash flows from financing LO P3 Cash received from long-term notes payable Purchase of investments $ 44,000 11,100 Cash dividends paid Interest paid 35,600 17,800 Compute cash flows from financing activities using the above company information. (Amounts to be deducted should be indicated by a minus sign.) Financing Activities o search O 70°F Cloudy 11:06 AM 99+ 10/13/2021 hp 40 144 21 2414 brt se detete home end 96 & 4 6 8 backspace THam lock R 7T Y G\ L
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11 Compute Cash Flow from Operating Activities from the following details: Particulars Trade Receivables: Debtors CA Bills Receivable CA Trade Payables: Creditors CL Bills Payable CL L Expenses Outstanding Accrued Income CAT Depreciation on Fixed Assets No + Surplus, i.e., Balance in Statement of Profit & Loss 31st March, 2023 (R) 50,000 23,000 28,000 22,000 4,500 9,000 5,000 90,000 31st March 2022 ) 60,000 25,000 32,000 35,000 3,500 8,000 4,000 80,000
3 ook rences Exercise 16-21B (Algo) Direct: Preparing statement of cash flows and supporting note LO P5 Cash and cash equivalents, December 31 prior year-end Cash and cash equivalents, December 31 current year-end Cash received as interest Cash paid for salaries Bonds payable retired by issuing common stock (no gain or loss on retirement) Cash paid to retire long-term notes payable Cash received from sale of equipment Land purchased by issuing long-term notes payable Cash paid for store equipment Cash dividends paid Cash paid for other expenses Cash received from customers Cash paid for inventory FERRON COMPANY Statement of Cash Flows For Year Ended December 31 Use the above information about Ferron Company to prepare a complete statement of cash flows (direct method) for the current year ended December 31. Use a note disclosure for any noncash investing and financing activities. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from operating activities $…
QS 16-17 (Algo) Computing financing cash outflows LO P3 A comparative balance sheet and income statement is shown for Cruz, Incorporated. CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated depreciation-Furniture Total assets Liabilities and Equity Accounts payable Wages payable Income taxes payable ces Total current liabilities Notes payable (long-term) Total liabilities Equity 2021 2020 $ 72,900 31,300 $ 18,100 38,400 65,600 72,100 4,000 3,300 131,900 173,800 80,600 (12,500) $ 241,900 $ 11,400 93,500 (7,100) $ 218,300 $ 16,100 6,800 3,800 1,200 2,100 19,400 22,000 24,800 55,800 44,200 77,800 170,300 27,400 134,800 5,700 Total liabilities and equity $ 241,900 $ 218,300 CRUZ, INCORPORATED Income Statement Common stock, $5 par value Retained earnings For Year Ended December 31, 2021 $ 373,800 240,600 Sales Cost of goods sold Gross profit Operating expenses (excluding…