Sunland's Organic Product had the following transactions during 2022: 1. Issued $53000 of common stock at par for cash. 2. Repaid a 6 year note payable in the amount of $16000. 3. Acquired land by issuing common stock at par for $53000. 4. Declared and paid a cash dividend of $7200. 5. Sold a long-term investment (cost $3100) for cash of $6000. 6. Acquired an investment in IBM stock for cash of $9700. What is the net cash provided by financing activities? $0 $29800 $37000 $69900

Sunland's Organic Product had the following transactions during 2022: 1. Issued $53000 of common stock at par for cash. 2. Repaid a 6 year note payable in the amount of $16000. 3. Acquired land by issuing common stock at par for $53000. 4. Declared and paid a cash dividend of $7200. 5. Sold a long-term investment (cost $3100) for cash of $6000. 6. Acquired an investment in IBM stock for cash of $9700. What is the net cash provided by financing activities? $0 $29800 $37000 $69900

Name: Rahul Sunland's Organic Product had the following transactions during
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Description: Rahul Sunland's Organic Product had the following transactions during 2022:1. Issued $53000 of common stock at par for cash.2. Repaid a 6 year note payable in the amount of $16000.3. Acquired land by issuing common stock at par for $53000.4. Declared

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter14: Statement Of Cash Flows

Section: Chapter Questions

Problem 37E: During 20X1, Craig Company had the following transactions: a. Purchased 300,000 of 10-year bonds...

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Consider the following scenario: A newly incorporated company ("iX Nuts") engages in the selling of macadamia nuts. For the 2022 year of assessment, the following is applicable: ● The company was initially funded by a bank loan of $500k bearing interest at 5% payable annually in arrears Share capital was $1,000 paid for in cash by shareholders ● The company purchased $1m worth of macadamia nuts as stock during the year. 10% of this was owing to creditors at year end • The company had sold 80% of its stock by year end ● The company incurred packaging costs of $100,000 in converting purchased macadamia nuts into the final product that is ready for sale. This amount is considered to be part of the cost of goods sold. • The mark-up the company applied to its cost (including packaging) was 120% 75% of the company's sales were cash with the remainder being credit sales Salaries for the company for the year were $240,000 ● The only equipment purchased by the company was a packaging machine…
How would I do the statement of cash flows? (The startup uses straight line when depreciating long-term assets and a perpetual inventory system. It has an estimated tax rate of 35%.) Jan 1st, issued 500 shares of common stock ($0.10 par value) for $50,000. Feb 1st, paid $25,000 to purchase equipment (estimated useful life 10 years; salvage value = 1,540). Feb 28th, issued 100 shares of common stock ($0.10 par value) for $20,000. June 30th, paid $175,000 for a land by signing a 5 year Note Payable, promising to pay 5% interest on June 30th of each of those 5 years. July 1st, purchased 500 units of inventory at $15 each. $2,000 was paid in cash, the rest was on account. July 30th, sold 220 units of inventory for $63 each on account. The inventory came with a 1 year warranty. The company expects that providing the warranty will cost 1% of the sales made. Aug 2nd, incurred $450 of wages expense. Aug 5th, collected $2500 of accounts receivable. Aug 31st, paid $450 of wages payable. Sept…