The following T-account is a summary of the cash account of Shamrock Company. Balance, Jan. 1 Receipts from customers Dividends on stock investments Cash (Summary Form) Proceeds from sale of equipment Proceeds from issuance of bonds payable Balance, Dec. 31 Net cash 16,000 728,000 Payments for goods 400,000 12,000 Payments for operating expenses 280,000 72,000 Interest paid Taxes paid 600,000 Dividends paid 632,000 provided by financing activities What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) $ 20,000 312000 16,000 80,000

The following T-account is a summary of the cash account of Shamrock Company. Balance, Jan. 1 Receipts from customers Dividends on stock investments Cash (Summary Form) Proceeds from sale of equipment Proceeds from issuance of bonds payable Balance, Dec. 31 Net cash 16,000 728,000 Payments for goods 400,000 12,000 Payments for operating expenses 280,000 72,000 Interest paid Taxes paid 600,000 Dividends paid 632,000 provided by financing activities What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) $ 20,000 312000 16,000 80,000

Name: The following T-account is a summary of the cash account of Shamrock
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Description: The following T-account is a summary of the cash account of Shamrock Company.Cash (Summary Form)Balance, Jan. 1Receipts from customersDividends on stock investmentsProceeds from sale of equipmentProceeds from issuance ofbonds payableBalance, Dec. 31

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 following T-account is a summary of the Cash account of Lily Company. Cash (Summary Form) Balance, Jan. 1 Receipts from customers Dividends on stock investments Proceeds from sale of equipment Proceeds from issuance of bonds payable Balance, Dec. 31 Net cash 7,400 368,400 Payments for goods 297,800 6,200 Payments for operating expenses 140,700 36,900 Interest paid 11,200 Taxes paid 499,700 Dividends paid 400,700 8,300 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amount that decrease cash flow with either a-sign e.g. -15,000 or in parenthesis e.g. (15,000).) provided by financing activities $ 59,900
Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $400,000 of bonds, on which there was $3,000 of unamortized discount, for $411,000. b. Sold 20,000 shares of $5 par common stock for $22 per share. c. Sold equipment with a book value of $55,800 for $60,000. d. Purchased land for $650,000 cash. e. Purchased a building by paying $50,000 cash and issuing a $450,000 mortgage note payable. f. Sold a new issue of $500,000 of bonds at 98. g. Purchased 10,000 shares of $40 par common stock as treasury stock at $50 per share. h. Paid dividends of $1.50 per share. There were 1,000,000 shares issued and 120,000 shares of treasury stock. Effect Amount Cash payment $ 411,000 а. b. Cash receipt $4 440,000 Cash receipt 2$ 60,000 C. d. Cash payment 2$ 650,000 Cash payment $ 50,000 е. f. Cash receipt v $4 490,000 g. Cash payment $ 232,500 X h. Cash payment 1,320,000…
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Effect of Transactions on Cash Flows State the effect (cash receipt or cash payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $220,000 of bonds, on which there was $2,200 of unamortized discount, for $229,000. b. Sold 12,000 shares of $30 par common stock for $53 per share. c. Sold equipment with a book value of $52,900 for $76,200. d. Purchased land for $329,000 cash. e. Purchased a building by paying $75,000 cash and issuing a $120,000 mortgage note payable. f. Sold a new issue of $320,000 of bonds at 98. g. Purchased 4,900 shares of $35 par common stock as treasury stock at $63 per share. h. Paid dividends of $2.20 per share. There were 19,000 shares issued and 3,000 shares of treasury stock. Effect Amount а. b. $ С. d. е. $ f. $ g. 2$ h.
The following T-account is a summary of the Cash account of Pharoah Company. Cash (Summary Form) Balance, Jan. 1 8,500 Receipts from customers 362,500 | Payments for goods 255,900 Dividends on stock investments 6,800 | Payments for operating expenses 140,600 Proceeds from sale of equipment 36,400 | Interest paid 11,700 Proceeds from issuance of bonds payable 499,400 | Taxes paid 7,200 Dividends paid 59,900 Balance, Dec. 31 438,300 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amount that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash * by financing activities $
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Preparing the Statement of Cash Flows Balance sheet information for Beckwith Products Company is presented below. Jan. 1 Dec. 31 Assets: Cash $25,000 $36,950 Accounts receivable 78,000 75,100 Inventory 36,000 45,300 Property, plant, and equipment 153,000 256,400 Accumulated depreciation 20,000 38,650 Total assets $272,000 $375,100 Liabilities and Equity: Accounts payable $11,000 $13,100 Interest payable 8,000 11,500 Wages payable 9,000 8,100 Notes payable 90,000 105,000 Common stock 50,000 100,000 Retained earnings 104,000 137,400 Total liabilities and equity $272,000 $375,100 Additional Information: Net income for the year was $58,400. Cash dividends of $25,000 were declared and paid during the year. During the year, Beckwith issued $50,000 of notes payable and repaid $35,000 principal relating to notes payable. Common stock was issued for $50,000 cash.…
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NOTE: Using INDIRECT Method (Cash Flow)
Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $220,000 of bonds, on which there was $2,200 of unamortized discount, for $229,000. b. Sold 12,000 shares of $15 par common stock for $23 per share. c. Sold equipment with a book value of $47,400 for $68,300. d. Purchased land for $436,000 cash. e. Purchased a building by paying $58,000 cash and issuing a $110,000 mortgage note payable. f. Sold a new issue of $240,000 of bonds at 97. g. Purchased 3,300 shares of $25 par common stock as treasury stock at $48 per share. h. Paid dividends of $2.50 per share. There were 28,000 shares issued and 4,000 shares of treasury stock. a. b. C. d. e. f. Effect Cash payment Cash receipt Cash receipt Cash payment ✓ Cash payment - ✓ Cash receipt ✔ ✓ ✓ g. Cash payment -✔ h. Cash payment Amount 229,000 ✓ 161,000 X 100000
Calculate the cash flow from operating activity
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