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
The following information pertains to an entity’s cash account: Cash balance, beginning 880,000 Cash receipts from the sale of goods 8,000,000 Cash receipts from dividends and interest 80,000 Cash payments for interest 250,000 Cash payments to suppliers of goods 6,000,000 Cash payments to employees 800,000 Cash payments to acquire property, plant and equipment 1,200,000 Cash receipts from sales of property, plant and equipment 280,000 Cash payments to acquire equity or debt instruments of other entities 520,000 Cash receipts from sales equity or debt instruments of other entities 430,000 Cash proceeds from issuing shares 1,600,000 Cash payments to owners to redeem the entity’s shares 340,000 Cash proceeds from borrowings 2,100,000 Cash repayments of amounts borrowed 1,700,000 The entity’s cash balance at the end of the period is a. 2,560,000 b. 2,650,000 c. 2,480,000 d. 2,840,000
Kela Corporation reports net income of $510,000 that includes depreciation expense of $85,000. Also, cash of $46,000 was borrowed on a 3-year note payable. Based on this data, total cash inflows from operating activities are: Multiple Choice O $641,000. $595,000. O $556,000 $425,000
Given the following information about cash management of the Evergreen Company: Average cash payment is $120,000 per month. The company invests spare cash in Treasury Bills at an annual interest rate of 3.90%. The cost of each transaction of Treasury bills is $25. What is the average cash balance of the Evergreen Company? (no excel pls) a. $21,483 b. $12,403 c. $8,771 d. $15,191 e. $42,967
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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Riley Company borrowed $40,000 on April 1, Year 1 from the Titan Bank. The note issued by Riley carried a one year term and a 7% annual interest rate. Riley earned cash revenue of $1,060 in Year 1 and $1,500 in Year 2 Assume no other transactions. The amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows would be: Multiple Choice . . $800 inflow $1,300 outflow $40,800 outflow $1,500 inflow
Lite Travel Company's accounting records include the following information: Payments to suppliers Collections on accounts receivable $49,000 84,000 Cash sales 46,000 What is the amount of net cash provided by operating activities indicated by the amounts provided? Multiple Choice $(133,000). $81,000. $95,000. $49,000.
Kela corporation reports net income of 570,000 that includes depreciation expense of 77,000 also cash of 47,000 it was borrowed on a three year note payable based on the data total cash inflows operating activities are
Tiger Trade has the following cash transactions for the period. Accounts AmountsCash received from sale of products to customers $ 40,000Cash received from the bank for long-term loan 45,000Cash paid to purchase factory equipment (50,000)Cash paid to merchandise suppliers (12,000)Cash received from the sale of an unused warehouse 13,000Cash paid to workers (24,000)Cash paid for advertisement (4,000)Cash received for sale of services to customers 30,000Cash paid for dividends to stockholders (6,000)Required: 1. Calculate the ending balance of…
Use the indirect method to determine Anka Company’s net cash provided or used for operating activities using the below information: Net income $15,200 Depreciation expense 10,000 Cash payment on long-term note payable 8,000 Gain on sale of equipment 3,000 Increase in inventory 1,500 Increase in accounts payable 2,850 Group of answer choices $15,550 $42,400 ($4,450) $23,550

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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