Three Gray Ladies, Inc. had the following activities during the year. What would be reported on the Statement of Cash Flows as the net cash flow from investing activities? Sold equipment with a $50,000 book value for a gain of $12,000. Paid $34,000 on a long-term note payable. Received $100,000 from common stock issuance. Purchased land. Paid a down payment of $10,000. The balance of $90,000 will be paid via a five-year promissory note with quarterly payments. Purchased an investment of IBM Stock for $5,000. Paid $17,000 cash for purchase of merchandise inventory. A- $35,000 B- $13,000 c- $47,000 d- ($43,000)

Three Gray Ladies, Inc. had the following activities during the year. What would be reported on the Statement of Cash Flows as the net cash flow from investing activities? Sold equipment with a $50,000 book value for a gain of $12,000. Paid $34,000 on a long-term note payable. Received $100,000 from common stock issuance. Purchased land. Paid a down payment of $10,000. The balance of $90,000 will be paid via a five-year promissory note with quarterly payments. Purchased an investment of IBM Stock for $5,000. Paid $17,000 cash for purchase of merchandise inventory. A- $35,000 B- $13,000 c- $47,000 d- ($43,000)

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter6: Cash And Internal Control

Section: Chapter Questions

Problem 6.2E

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Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Journalize the entries for these transactions.
Three Gray Ladies, Inc. had the following activities during the year. What would be reported on the Statement of Cash Flows as the net cash flow from investing activities? • Sold equipment with a $50,000 book value for a gain of $12,000. • Paid $34,000 on a long-term note payable. • Received $100,000 from common stock issuance. • Purchased land. Paid a down payment of $10,000. The balance of $90,000 will be paid via a five-year promissory note with quarterly payments. • Purchased an investment of IBM Stock for $5,000. • Paid $17,000 cash for purchase of merchandise inventory.
State your current cash balance if you have the following information:total cash receipts of $624,000; a cash balance at the end of last year of$60,000; total cash payments of $540,000; cash outflow from investingactivities of $100,000; and cash inflows from financial activitiesof $172,000.
XYZ Corporation had the following cash flow information for the year: Cash inflows from operations: $200,000 Cash outflows for investments: $50,000 Cash outflows for financing activities: $100,000 Calculate the net cash flow for XYZ Corporation for the year.
Rainey enterprises loaned $50,000 to Small Co. on June 1, Year 1, for one year at 6% interest. Rainey Enterprises loaned $50,000 to Small Co. on June 1, Year 1, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). For any element not affected by the event, leave the cell blank. (Not every cell will require entry. Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Round your answers to the nearest whole dollar.) (1) The loan to Small Co. (2) The adjusting entry at December 31, Year 1. (3) The adjusting entry and collection of the note on June 1, Year 2. RAINEY ENTERPRISES Horizontal Statements Model Assets Equity Income Statenment Statement of Cash Flow Date Liabilinies Notes Receivable Interest Receivable Retained…
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