The balance sheet data of Pina Company at the end of 2020 and 2019 are shown below. 2020 2019 Cash $30,100 $35,100 Accounts receivable (net) 55,000 44,900 Inventory 64,600 45,100 Prepaid expenses 15,000 24,700 Equipment 90,200 74,500 Accumulated depreciation—equipment (18,040 ) (8,000 ) Land 70,200 39,800 $307,060 $256,100 Accounts payable $64,600 $52,500 Accrued expenses 14,800 17,900 Notes payable—bank, long-term –0– 22,900 Bonds payable 30,300 –0– Common stock, $10 par 190,400 160,000 Retained earnings 6,960 2,800 $307,060 $256,100 Land was acquired for $30,400 in exchange for common stock, par $30,400, during the year; all equipment purchased was for cash. Equipment costing $13,200 was sold for $3,100; book value of the equipment was $6,100. Cash dividends of $10,100 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).) (a) Net Cash by operating/financing activities. $ (b) Net Cash by operatinginvesting activities. $ (c) Net Cash by operating/financing activities. $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The balance sheet data of Pina Company at the end of 2020 and 2019 are shown below.

	2020		2019
Cash	$30,100			$35,100
Accounts receivable (net)	55,000			44,900
Inventory	64,600			45,100
Prepaid expenses	15,000			24,700
Equipment	90,200			74,500
Accumulated depreciation—equipment	(18,040	)		(8,000	)
Land	70,200			39,800
	$307,060			$256,100

Accounts payable	$64,600			$52,500
Accrued expenses	14,800			17,900
Notes payable—bank, long-term	–0–			22,900
Bonds payable	30,300			–0–
Common stock, $10 par	190,400			160,000
Retained earnings	6,960			2,800
	$307,060			$256,100

Land was acquired for $30,400 in exchange for common stock, par $30,400, during the year; all equipment purchased was for cash. Equipment costing $13,200 was sold for $3,100; book value of the equipment was $6,100. Cash dividends of $10,100 were declared and paid during the year.

Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).)

(a)	Net Cash by operating/financing activities.	$
(b)	Net Cash by operatinginvesting activities.	$
(c)	Net Cash by operating/financing activities.	$

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