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 $fill in the blank 1
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Selected information from Peridot Corporation's accounting records and financial statements for 2021 is as follows ($ 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
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
Required Information Exercise 12-10A (Algo) Determining cash flows from Investing activities LO 12-3 [The following information applies to the questions displayed below.] The following accounts and corresponding balances were drawn from Delsey Company's Year 2 and Year 1 year-end balance sheets: Account Title Investment securities Machinery Land Other Information drawn from the accounting records: Year 2 $ 104,300 524,400 143,300 1. Delsey Incurred a $1,210 loss on the sale of Investment securities during Year 2. 2. Old machinery with a book value of $4,860 (cost of $25.120 minus accumulated depreciation of $20,260) was sold. The Income statement showed a gain on the sale of machinery of $4,670. 3. Delsey did not sell land during the year. Exercise 12-10A (Algo) Part e e. Prepare the investing activities section of the statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign. DEL SEY COMPANY Statement of Cash Flows (Investing Activities) For the Year…
Sale of investments Cash collections from customers Cash purchase of used equipment Depreciation expense $ 6,500 17,200 5,700 2,100 Compute cash flows from investing activities using the above company information. Note: Amounts to be deducted should be indicated by a minus sign. Investing Activities