I don't need ai answer general accounting questions Stimpleton Company engages in the following cash payments:Purchase equipmentPay rent$3,950$650Repay loan to the bank $4,100Pay workers' salaries$750What is the total amount of cash paid for operating activities?a. $4,850b. $3,950c. $8,050d. $1,400

Step 1: Define Operating ActivitiesOperating activities can be defined as the transactions that are…

Answered: Stimpleton Company engages in the…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400
To demonstrate the difference between cash account activity and accrual basis profits (net income), note the amount each transaction affects cash and the amount each transaction affects net income. A. issued stock for cash $20,000 B. purchased supplies inventory on account $1,800 C. paid employee salaries; assume it was current days expenses $950 D. paid note payment to bank (principal only) $1,200 E. collected balance on accounts receivable $4,750
Freeman Company's accounting records include the following information: Payments to suppliers Collections on accounts receivable Cash sales Income taxes paid Equipment purchased What is the amount of net cash provided by operating activities indicated by these transactions? Multiple Choice O O $164,500 $43,500 $53,500 $ 48,000 99,000 22,000 $68,500 4,500 15,000
How much is the net cash from (used in) operating activities?
The following selected information pertains to Brock Company:Cash balance, January 1, 20x1 P130,000Accounts receivable, January 1, 20x1 190,000Collections from customers in 20x1 2,100,000Capital account balance, January 1, 20x1 380,000Total assets, January 1, 20x1 750,000Additional cash investment, July 1, 20x1 50,000Total assets, December 31, 20x1 1,010,000Cash balance, December 31, 20x1 200,000Accounts receivable, December 31, 20x1 360,000Withdrawals made during 20x1 110,000Total liabilities, December 31, 20x1 410,0007. Net income for the year ended December 31, 20x1
Kindly explain why 113,550 is the answer
Give the statement of cash flows
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Smith Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5240000 O $5790640. O $4063360. O $6416640. O $5240000. 712640 151000 313000 Smith should report cash provided by operating activities of
Hassan Corporation reports the following information: Net income OMR 500,000 Depreciation expense 140,000 Decrease in accounts receivable 60,000 Hasaan should report cash provided by operating activities of Select one: O a. OMR 300,000. O b. OMR 580,000. c. OMR 420,000. d. OMR 700,000.
Income tac was $300,409 for the year. Income tac payable was $28,102 and $42,997 at the beginning and end of the year,reapectively. Cash payants for income tac reportés on the statement pc cash flots usine the direct method la a. $ 285,514 b. 315,304 c. 300,409 d. 371,508
The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from:Collections from customers $380,000Interest on notes receivable 6,000Collection of notes receivable 50,000Sale of investments 30,000Issuance of notes payable 100,000Cash Paid for:Purchase of inventory 160,000Interest on notes payable 5,000Purchase of equipment 85,000Salaries to employees 90,000Payment of notes payable 25,000Dividends to shareholders…

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Stimpleton Company engages in the following cash payments: Purchase equipment Pay rent $3,950 $650 Repay loan to the bank $4,100 Pay workers' salaries $750 What is the total amount of cash paid for operating activities? a. $4,850 b. $3,950 c. $8,050 d. $1,400