The balance sheet data of Shamrock Company at the end of 2020 and 2019 are shown below. 2020 2019Cash $29,700 $35,000 Accounts receivable (net) 54,800 44,600 Inventory 64,700 45,300 Prepaid expenses 14,900 24,700 Equipment 89,400 74,600 Accumulated depreciation—equipment (17,880) (7,900)Land 69,800 39,800 $305,420 $256,100 Accounts payable $64,700 $51,500 Accrued expenses 14,800 17,800 Notes payable—bank, long-term –0– 22,700 Bonds payable 29,700 –0– Common stock, $10 par 190,600 160,600 Retained earnings 5,620 3,500 $305,420 $256,100 Land was acquired for $30,000 in exchange for common stock, par $30,000, during the year; all equipment purchased was for cash. Equipment costing $13,000 was sold for $3,000; book value of the equipment was $6,100. Cash dividends of $10,000 were declared and paid during the year.Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).) (a)Net Cashv by operating activities.$(b)Net Cashv by investing activities.(c)Net Cashv by financing activities.2$%24%24

Cash flow statement is a statement which is prepared to find out the cash comes in and goes out , by…

Answered: The balance sheet data of Shamrock…

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 Shamrock Company at the end of 2020 and 2019 are shown below.

	2020		2019
Cash	$29,700			$35,000
Accounts receivable (net)	54,800			44,600
Inventory	64,700			45,300
Prepaid expenses	14,900			24,700
Equipment	89,400			74,600
Accumulated depreciation—equipment	(17,880	)		(7,900	)
Land	69,800			39,800
	$305,420			$256,100

Accounts payable	$64,700			$51,500
Accrued expenses	14,800			17,800
Notes payable—bank, long-term	–0–			22,700
Bonds payable	29,700			–0–
Common stock, $10 par	190,600			160,600
Retained earnings	5,620			3,500
	$305,420			$256,100

Land was acquired for $30,000 in exchange for common stock, par $30,000, during the year; all equipment purchased was for cash. Equipment costing $13,000 was sold for $3,000; book value of the equipment was $6,100. Cash dividends of $10,000 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
v by operating activities.
$
(b)
Net Cash
v by investing activities.
(c)
Net Cash
v by financing activities.
2$
%24
%24

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