Salaries Payable 25.000 30625 Notes Payable 31.20 91,750 Bends Payable 250.000 Common Sk 375.000 37500 Retained Earnings Additenal nformatin tor Year 2 D Seld vailable r sale securties coing S8N7S or 92.500 2 Equipment cosIng 000 wtha book value of .250 was sokd for 7500 hoed bends an face value fee s250.0o0n (0 Purchased new equipment for sIs1.250 and paid cas 5) Paid cash dividends of s25,000. 6 Net ineome was 562.500. What the net cash provided er used by investing activies? 81250 25750 (27750)
Salaries Payable 25.000 30625 Notes Payable 31.20 91,750 Bends Payable 250.000 Common Sk 375.000 37500 Retained Earnings Additenal nformatin tor Year 2 D Seld vailable r sale securties coing S8N7S or 92.500 2 Equipment cosIng 000 wtha book value of .250 was sokd for 7500 hoed bends an face value fee s250.0o0n (0 Purchased new equipment for sIs1.250 and paid cas 5) Paid cash dividends of s25,000. 6 Net ineome was 562.500. What the net cash provided er used by investing activies? 81250 25750 (27750)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Salaries Payable
25.000
30,625
Notes Payable
31.250
93.750
Bonds Payable
250.000
Common Stock
375,000
375,000
Retained Earnings
410.044
1224219
Additional information for Year 2
(1) Sold available for sale securities costing
s86,87S tor $92.500.
(21 Equipment costing $25.000 with a book value
of $6.250 was sold for $7,500
hsued 8% bonds at face value for $250.000.
(4) Purchased new equipment for 1181.250 and
paid cash
(5) Paid cash dividends of 525,000.
6) Net incoene was s62.500.
What is the net cash provided or used by
investing activities?
81250
(01250)
25750
(27750)
Transcribed Image Text:QUESTION 1
Presented below are the comparative December
31 financial statements for Dubai Industries, Inc.
(in s Millions). Prepare a statement of canh flowes
for December 31. Year 2 using the indirect
method.
Dubai ladustries, Ine
Balance Sheets
AL December 31. Year 2 and
Year 1
Year 2
Year1
Cash
196,719
$28,694
Accounts Receivable
100.000
85.313
Inventory
206,250
181.250
1875
Prepaid Insurance
land. Buldings, and
2500
Equipement
Accumulated
1,562.500
1,406,250
Depreciation
(762,500)
(715,000)
Investments
Total Assets
19.375
106250
1224 212
Accounts Payable
$95,425
$18SK
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