My question is how to solve this problem, and why don't you include the proceeds from the sale of equipment in the calculation? BE12-3 The following T-account is a summary of the Cash account of CuellarCompany.Cash (Summary Form)Balance, Jan. 18,000364,000 Payments for goods6,000 Payments for operatingexpenses36,000 Interest paidReceipts from customers200,000Dividends on stock investments140,000Proceeds from sale of equipment10,000Proceeds from issuance of bonds 300,000 Taxes paidрayable8,000Dividends paid50,000Balance, Dec. 31306,000What amount of net cash provided (used) by financing activities should bereported in the statement of cash flows?Compute net cash provided by operating activities-indirect method.

Cash Flow Statement is a part of financial statement prepared to calculate the amount of cash and…

Answered: What amount of net cash provided (used)…

What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? Compute net cash provided by operating activities-indirect method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Provide the quick ratio. Given: Current Assets Cash in bank P282,506 Due from related parties - current portion 1,325,607,906 Current Liabilities 1,925,822,542
Problem 17-4 (IAA) Pro Forest Company provided the following information for the preparation of a statement of cash flows for the current year Fear state 2020 2019 Cas! Accc Inve Inve Lan Pro Acc Goc 300,000 Cash and cash equivalents Trading securities Accounts receivable, net of allowance Inventory Property, plant and equipment (net) Goodwill Discount on bonds payable 603,000 300,000 200,000 600,000 900,000 2,000,000 200,000 72,000 520,000 840,000 2,100,000 200,000 100,000 4,675,000 4,260,000 Acc No Во Sh. Sh Re Tr 490,000 310,000 800,000 800,000 210,000 1,000,000 Accounts payable Accrued expenses Bonds payable Preference share capital, P100 par, each share convertible into two ordinary shares Ordinary share capital, P20 par Share premium Retained earnings 500,000 700,000 400,000 650,000 400,000 820,000 500,000 1,355,000 A 4,675,000 4,260,000 1. Additional information 2. 1. Net income for the current year was P1,705,000. 2. Cash dividend paid during the year totaled P1,000,000. 3. The…
Financial information of ABC Company for the year ended December 31, 2021. Description Debit Credit Cash on hand 40,000.00 Cash in bank 900,000.00 Petty cash fund 10,000.00 BSP Treasury bill, purchased on December 1, 2021 and due March 1, 2022 150,000.00 Financial assets at fair value 200,000.00 Financial assets at amortized cost 3,000,000.00 Investment in associate at equity method 1,000,000.00 Accounts receivable 580,000.00 Trade Notes receivable 100,000.00 Accrued interest on notes receivable 10,000.00 Advances to employees, collectible currently 30,000.00 Merchandise Inventory 1,500,000.00 Store supplies 50,000.00 Office supplies unused 30,000.00 Prepaid insurance 20,000.00 Land 1,500,000.00 Building 4,500,000.00 Equipment 1,000,000.00…
XYZ provided the following financial information: XYZBalance SheetAs of 12/31/19 Assets: Liabilities and Equity: Cash and marketable securities $27,476 Accounts payable and accruals $154,860 Accounts receivable $143,519 Short-term notes payable $21,255 Inventory $212,379 Total current liabilities $176,115 Total current assets $383,374 Long term debt $155,510 Net plant and equipment $602,704 Total liabilities $331,625 Goodwill and other assets $42,422 Common stock $312,719 Retained earnings $384,156 Total assets $1,028,500 Total liabilities and equity $1,028,500 In addition, it was reported that the firm had a net income of: $158,402 and net sales of: $4,272,431 Calculate the following ratios for this firm (Use 365 days for calculation. Round answers to 2 decimal places, e.g. 52.75.): Current Ratio ? times…
The following items are reported on a company’s balance sheet:Cash $210,000Marketable securities 120,000Accounts receivable (net) 110,000Inventory 160,000Accounts payable 200,000Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
The following is an extract from the financial statements of Pompeii at 31 October: 20X7 20X6 $00 $000 Equity and liabilities: Share capital 120 80 Share premium 60 40 Retained earnings 85 68 265 188 Non-current liabilities: Bank loan 100 150 365 338 What Pompeii's net cash inflow or outflow from financing activities to include in the statement of cash flows for the year ended 31 October 20X7?
Below are the account balances prepared by the bookkeeper for Torres Company as of December 31, 2021: CashAccts receivable, net Php1,765,000 930,007 Inventories 750,000 Investments, cost 763,000 Additional information: a. Included in the cash account are the following: compensating cash fund legally restricted for withdrawal of P300,000; Cash for the retirement of bonds payable of P600,000; Contingency fund of P500,000; Three-months money market funds of P250,000; short term operating funds of P50,000; currencies and coins on hand in various denominations, P65,000. b. The receivable includes, among others; Customers’ account with credit balance of P45,000; Share subscription receivable of P100,000 collectibles within two years from initial recognition. Shares were originally subscribed on June 2, 2020. Also, it included a P600,000 (which had been past due for 6 months) charged to the account of an officer who at the moment is experiencing financial…
MC Qu. 12-110 Augusta Company reported that its bonds. Augusta Company reported that Its bonds with a face value of $62,000 and a carrylng value of $56,000 are retired for $62,000 cash. The amount to be reported under cash flows from financing activitles is: Multiple Cholce ($68,000) ($6.000) ($62,000) $0; this is an operating activity.
17. Maymay Company trial balance has the following selected accounts: Cash (includes P100,000 in bond sinking fund for long term bond payable) 500,000 Accounts receivable 200,000 Allowance of uncollectible accounts 50,000 Deposits received from customers 30,000 Merchandise inventory 70,000 Unearned rent 10,000 Investment at fair value to profit or loss 20,000 What amount should Mumay Company report as total current assets in its statement of financial position? Group of answer choices 740,000 640,000 720,000 670,000
(Calculating financial ratios) The balance sheet and income statement for the J. P. Robard Mfg. Company are as follows: Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin The company's current ratio is (Round to two decimal places.) . Calculate the following ratios:
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…