Use the following excerpts from Fruitcake Company's financial records to determine net cash flows from investing activities. Acquired new plant assets Collected interest on investment assets Sold land used in business Investing Activities: Cash proceeds from land sale Cash paid for purchase of plant assets Net cash flows from investing activities $18,000 4,000 36,500

Use the following excerpts from Fruitcake Company's financial records to determine net cash flows from investing activities. Acquired new plant assets Collected interest on investment assets Sold land used in business Investing Activities: Cash proceeds from land sale Cash paid for purchase of plant assets Net cash flows from investing activities $18,000 4,000 36,500

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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Statement of Cash Flows The following is a list of the items for Lombardo Company's 2019 statement of cash flows: a. depreciation expense, $4,300 b. proceeds from sale of land, $5,500 c. payment of dividends, $5,000 d. net income, $8,000 e. conversion of bonds to common stock, $7,000 k. ending cash balance, $14,000 f. increase in accounts payable, $3,000 Required: Prepare the statement of cash flows. Use a minus sign to indicate cash outflows, a decrease in cash or cash payments. LOMBARDO COMPANY Statement of Cash Flows For Year Ended December 31, 2019 Operating Activities: Net income Adjustment for noncash income items: Add: Depreciation expense g. proceeds from issuance of note, $6,100 h. gain on sale of land, $1,900 i. payment for purchase of building, $13,000 j. increase in accounts receivable, $2,800 Adjustments for cash flow effects from working capital items:
Use the following excerpts from Fruitcake Company's financial records. Acquired new plant assets $21,000 Collected interest on investments assets (21,000) Sold land used in business 37,500 Determine net cash flows from investing activities. $fill in the blank 1 Provide the missing piece of information for the following statement of cash flows puzzle. Cash flows from operating activities $66,000 Cash flows from investing activities (33,500) Cash flows from financing activities ? Cash at the beginning of the year 17,000 Cash at the end of the year 26,500 $fill in the blank 1 Provide the missing piece of information for the following statement of cash flows puzzle. Cash flows from operating activities $? Cash flows from investing activities 9,300 Cash flows from financing activities (28,500) Cash at the beginning of the year 29,000 Cash at the end of the year 26,000 $fill in the blank 1
EXPLORE Name: Time: Instructions: Based on the following data needed for cash flows preparation, 1) indicate whether each item enumerated is an inflow or and an outflow (outflows are enclosed in parenthesis) in operating, investing and financing activity; 2) compute net cash provided by (used in) operating activities. Items O perating Investing Financing 200,000 ExAcquisitio n of Land Initial investment by proprietor -200,000 300,000 300,000 Payment of rental 120,000 2 Cash received from services rende red 50,000 Investment by owner 25,000 4 Payment of utilites expense 65,000 5 Collection from customer's accounts 90,000 6 Proceeds from sale ofequipment Remitance of withholding tax 100,000 2,500 8 W ithdraw al by owner 15,000 9 Purchase ofequipment 5,000 10 Proceeds from a bank loan 100,000 11 Purchase of supplies 25,000 12 Payment of taxes and licenses 13 Remittance of SSS and Philhealth premiums 10,000 and contributions 4,500 14 Payment of accounts to suppliers 28,200 15 Additional…
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Selected information from Peridot Corporation's accounting records and financial statements for 2021 is as follows ($ in millions): Cash paid to acquire machinery Reacquired Peridot common stock Proceeds from sale of land. Gain from the sale of land Investment revenue received Cash paid to acquire office equipment Multiple Choice In its statement of cash flows, Peridot should report net cash outflows from investing activities of: $28 million. $33 59 Prey 92 48 71 87 1 of 10 www. www. Next
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Love Corporation's accounting records and financial statements for 2021 is as follows: Cash paid to acquire machinery Retired share capital P 32,000,000 51,000,000 95,000,000 50,000,000 72,000,000 85,000,000 Proceeds from sale of land Gain from the sale of land Investment revenue received Cash paid to acquire office equipment In its statement of cash flows, the company should report net cash flows from investing activities of:
Which of the following would be reported in the either the operating, investing or financing sections of the statement of cash flows prepared under the indirect method? Group of answer choices Declaration of an unpaid cash dividend Acquisition of a factory warehouse by issuing long term debt Gain on the sale of equipment sold Write-off of a noncollectable account receivable
How do I figure out how to journalize the cash flow
O On the Statement of Cash Flows a $5,000 gain on the sale of investements would be: Multiple Choice an addition to the Investing section a deduction from the Operating section a deduction from the Investing section an addition to the Financing section