The following transactions affected the Cash account of FDNACCT Co.: Collection from customers = P430,000 Proceeds from sale of furniture = P12,000 Proceeds from bank loan = P88,000 Additional investment from owner = P200,000 Purchase of equipment = P54,000 Payment of interest to bank = P8,000 Payment of operating expenses = P210,000 Withdrawal by owner = P49,000 How much is cash provided by (used in) Operating Activities? Enter as a

The following transactions affected the Cash account of FDNACCT Co.: Collection from customers = P430,000 Proceeds from sale of furniture = P12,000 Proceeds from bank loan = P88,000 Additional investment from owner = P200,000 Purchase of equipment = P54,000 Payment of interest to bank = P8,000 Payment of operating expenses = P210,000 Withdrawal by owner = P49,000 How much is cash provided by (used in) Operating Activities? Enter as a

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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Analyze this transaction as an asset, liability, paid in capital or retained earnings(plus or a negative) collected $235,000 in cash from credit customers.
The controller of Newstrom Software, Inc., provides the following information as the basis for a statement of cash flows: Cash collected from customers $785,400 Income taxes paid $58,300 Cash paid for interest 22,100 Payment of dividends 35,000 Cash paid to employees and other suppliers of goods and services 221,750 Principal payments on mortgage payable 60,000 Cash paid to suppliers of merchandise 395,540 Principal payments on long-term debt 22,000 Cash received from the issuance of long-term debt 40,000 Proceeds from the issuance of common stock 85,000 Cash received from disposal of equipment 42,500 Purchase of equipment 120,000 Cash received from sale of long-term investments 71,400 Purchase of long-term investments 75,800 Required: Use a minus sign to indicate any cash outflows: 1. Using the information provided above, calculate the net cash provided (used) by operating activities. 2. Using the information provided above, calculate the net cash…
Exercise 1-9 (Algo) Prepare a statement of cash flows (LO1-3) Garcia Trade has the following cash transactions for the period. Accounts Amounts Cash received from sale of products to customers $37,500 Cash received from the bank for long-term loan 42,500 Cash paid to purchase factory equipment (47,500) Cash paid to merchandise suppliers (11,500) Cash received from the sale of an unused warehouse 12,500 Cash paid to workers (23,500) Cash paid for advertisement (3,500) Cash received for sale of services to customers 27,500 Cash paid for dividends to stockholders (5,500) Assume the balance of cash at the beginning of the period is $4,500. Required: 1. Calculate the ending balance of cash.2. Prepare a statement of cash flows.
Required: Categorize the following transactions to the appropriate activity for the year ended 12/31/24 and indicate the cash effect if any. Equipment was purchased for $50,000. O Increase cash from operating activities O Decrease cash from operating activities Increase cash from investing activities Decrease cash from investing activities Increase cash from financing activities O Decrease cash from financing activities O Significant non-cash transaction O none of the above.
Ee.77.
Net cash from operating activities is： Net cash from financing activities is： Net cash from investing activities is:
Use the followIng Income statement and balare cheet Informatlon to put togethe er a statement of cash nows. (Eoter oegatve amouNTtS Lsng eibhera negaative slyn pENERINTD ChEe 7.017 Sales $1,237,000 Statement ot Cash Flows 2017 Cost of goods sold $684,000 Gross proft $553,000 Gen'1& admin expense $156,000 Selling & mkt expense $135,000 Depreclation $24,000 Operating Income $238,000 Interest $141,000 Income before taxes $97,000 Income taxes (27%) $26,190 Net Income 570,810 Dividends pald $25,000 Assets 2017 2016 Cash $14,590 Accounts recelvable $124,000 $113,000 Inventory $201,000 $218,000 Total current assets $345.590 Gross plant and equipmnent $700,000 $475.000 Less: accum. depreciation $313,000 $289,000 Net plant and equipment $387,000 $185.000 Total assets 5735,000 $531,590 Lablitles Accounts payable $118,000 $105,000 Notes payable $26,000 $26,000 Total current llablitles 5144,000 $131.000 Long-term debt $248,000 5154,000 Total llabilitles $392,000 3285,000 Common stock ($0.01 par)…
The controller of Newstrom Software, Inc., provides the following information as the basis for a statement of cash flows: Cash collected from customers $785,400 Income taxes paid $58,300 Cash paid for interest 22,100 Payment of dividends 35,000 Cash paid to employees and other suppliers of goods and services 221,750 Principal payments on mortgage payable 60,000 Cash paid to suppliers of merchandise 395,540 Principal payments on long-term debt 22,000 Cash received from the issuance of long-term debt 40,000 Proceeds from the issuance of common stock 85,000 Cash received from disposal of equipment 42,500 Purchase of equipment 120,000 Cash received from sale of long-term investments 71,400 Purchase of long-term investments 75,800 I am having trouble classifying what goes into what category (Operating, Investing, or Financing) for the cash flows and so I wanted to ask about this question while I do it. Use a minus sign to indicate any cash outflows: 1. Using…