Wildhorse Mining Corporation reports the following information for 2026; Purchased 5,000 shares of their own stock 468000, Issuance of bonds 276000, Purchase of land for new office location 577000, On July 1, borrowed at 6% interest 670000. Wildhorse should report net cash provided or used by financing activities of; a 498100 b. 478000 c. 1414000 d 862000
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Wildhorse Mining Corporation reports the following information for 2026; Purchased 5,000 shares of their own stock 468000, Issuance of bonds 276000, Purchase of land for new office location 577000, On July 1, borrowed at 6% interest 670000. Wildhorse should report net cash provided or used by financing activities of;
a 498100
b. 478000
c. 1414000
d 862000
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- During 20X1, Craig Company had the following transactions: a. Purchased 300,000 of 10-year bonds issued by Makenzie Inc. b. Acquired land valued at 105,000 in exchange for machinery. c. Sold equipment with original cost of 810,000 for 495,000; accumulated depreciation taken on the equipment to the point of sale was 270,000. d. Purchased new machinery for 180,000. e. Purchased common stock in Lemmons Company for 82,500. Required: 1. Prepare the net cash from investing activities section of the statement of cash flows. 2. CONCEPTUAL CONNECTION Usually, the net cash from investing activities is negative. How can Craig cover this negative cash flow? What other information would you like to have to make this decision?Dunn Company recognized a 5,000 unrealized holding gain on investment in Starbuckss long-term bonds during 2019. The company classified its investment as an available-for-sale security. How would this information be reported on a statement of cash flows prepared using the indirect method?A company's transactions for the year ended 31 December 2020, included the following: Purchase of building for RO 125000. Purchased investment securities worth RO 600000 Paid dividends of RO 300000 Issued 800 shares of common stock for RO 550000 Sale of Land costing RO 112000 for RO 175000 Accounts Receivable outstanding of RO 60000 were collected. Inventory were increased by RO 22000 Sale of Marketable securities RO 32100 Calculate the company's net cash INFLOW / OUTFLOW from investing activities?
- Flint Corp. Statement of Financial Position For the Year Ended December 31, 2023 Current assets Cash (net of bank overdraft of $40,000 ) $450,000 Accounts receivable (net) Inventory at the lower of cost and net realizable value FV-NI investments (at cost-fair value $320,000 ) Property, plant, and equipment Buildings (net) 590,000 Equipment (net) 190,000 Land held for future use ,265,000 Intangible assets Goodwill Investment in bonds to collect cash flows, at amortized cost 100,000 Prepaid expenses Current liabilities Accounts payable 365,000 Notes payable (due next year) Pension obligation Rent payable 505,000 511,000 340,000 265,000 Long-term liabilities Bonds payable 681,000 Shareholders' equity Common shares, unlimited authorized, 380,000 issued 380,000 Contributed surplus 210,000 Retained earningsPresented below are data taken from the records of Sheffield Company. December 31,2020 December 31,2019 Cash $15,100 $7,900 Current assets other than cash 85,800 59,800 Long-term investments 10,100 53,000 Plant assets 335,200 214,500 $446,200 $335,200 Accumulated depreciation $20,200 $40,200 Current liabilities 39,600 22,000 Bonds payable 75,800 –0– Common stock 252,800 252,800 Retained earnings 57,800 20,200 $446,200 $335,200 Additional information: 1. Held-to-maturity debt securities carried at a cost of $42,900 on December 31, 2019, were sold in 2020 for $33,600. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $49,600 and were 80% depreciated were sold during 2020 for $7,900. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the…In 2018, Jubilee Company repurchased its own stock at a cost of $55,000. During theyear, the company purchased land with cash for $120,000 and issued bonds payable for$500,000. Net cash provided by financing activities for the year would have beena. $675,000.b. $325,000.c. $445,000.d. $555,000.
- Patel Corporation Balance Sheet December 31, 2021 $ 630,000 189,000 275,000 1,875,000 Cash $ Accounts receivable ( net) Inventories Plant and equipment net of depreciation Patents Other intangible assets Total Assets $ 750,000 350,000 Accounts payable 1.950,000 Income taxes payable 2,439,000 Miscellaneous accrued payables Bonds payable (8% , due 2023) 1,963,000 Preferred slock ($100 par, 6% 261,000 cumulative nonparticipating) 75,000 Common stock (no par, 60,000 7,058.000 shares authorized, issued and outstanding) Retained earnings Treasury stock- - 1.500 shares of preferred Total Equities 1,125,000 2,439,000 (225,000) underline 5 7,058,000 Patel Corporation Income Statement Year ended December 31, 2021 Net sales $ Cose goods sold Gross profit Operating expenses (including bond interest expense) Income before income taxes Income tax Net income 9,000,000 6,000,000 3,000,000 1,500,000 1,500,000 450,000 1, 05 Additional information: There are no preferred dividends in arrears, the…Patel Corporation Balance Sheet December 31, 2021 $ 630,000 189,000 275,000 1,875,000 Cash $ Accounts receivable ( net) Inventories Plant and equipment net of depreciation Patents Other intangible assets Total Assets $ 750,000 350,000 Accounts payable 1.950,000 Income taxes payable 2,439,000 Miscellaneous accrued payables Bonds payable (8% , due 2023) 1,963,000 Preferred slock ($100 par, 6% 261,000 cumulative nonparticipating) 75,000 Common stock (no par, 60,000 7,058.000 shares authorized, issued and outstanding) Retained earnings Treasury stock- - 1.500 shares of preferred Total Equities 1,125,000 2,439,000 (225,000) underline 5 7,058,000 Patel Corporation Income Statement Year ended December 31, 2021 Net sales $ Cose goods sold Gross profit Operating expenses (including bond interest expense) Income before income taxes Income tax Net income 9,000,000 6,000,000 3,000,000 1,500,000 1,500,000 450,000 1, 05 Additional information: There are no preferred dividends in arrears, the…Presented below are data taken from the records of Crane Company. December 31, 2020 December 31, 2019 Cash $15,000 $7,900 Current assets other than cash 85,700 60,300 Long-term investments 10,000 52,700 Plant assets 334,400 216,700 $445,100 $337,600 Accumulated depreciation $20,100 $39,800 Current liabilities 39,700 22,100 Bonds payable 74,600 –0– Common stock 252,600 252,600 Retained earnings 58,100 23,100 $445,100 $337,600 Additional information: 1. Held-to-maturity debt securities carried at a cost of $42,700 on December 31, 2019, were sold in 2020 for $34,000. The loss (not unusual) was incorrectly charged directly to Retained Earnings. 2. Plant assets that cost $49,600 and were 80% depreciated were sold during 2020 for $8,000. The loss was incorrectly charged directly to Retained Earnings. 3. Net income as reported on the…
- Coronary, Inc. had the following transactions during 2020: Purchased new fixed assets for $35,000 Converted $20,000 worth of preferred shares to common shares Received cash dividends of $11,000. Paid cash dividends of $20,000. • Repaid mortgage principal of $17,000 . . . Assuming Coronary follows U.S. GAAP, which of the following amounts represents Coronary's cash flows from investing and cash flows from financing in 2020? Investing: ($35,000); Financing: ($37,000) Investing: ($24,000); Financing: ($26,000) Investing: ($35,000): Financing: ($26,000)Abakada Incorporated acquired all the assets and liabilities of Egaha Company on January 1, 2018. The consideration are as follows: Cash Equipment Cash contingency Stock contingency Bank loan, at face value The cash payments are distributed to the following payees: Former owners of Egaha Company Lawyers for legal services Actuarial for valuation of Egaha's net assets Bank, transaction costs for the bank loan 2,000,000 500,000 30,000 50,000 1,000,000 Business Combination Page 4 of 5 1,800,000 80,000 50,000 70,000 Answer the following independent questions: 19. If the fair value of net assets of Egaha amounted to Php3,000,000, how much is the goodwill (bargain purchase gain) on business combination? 20. If bargain purchase gain on the acquisition amounted to Php40,000, how much could be the fair value of net assets acquired?Study the information provided below and prepare the Cash Flow Statement of Company A for the year ended 31December 2022. Additional information¦ Selling and administrative expenses include the following:Depreciation on buildings R270 000Depreciation on plant and machinery R450 000¦ Property, plant and equipment were purchased during the year but there were no disposals.¦ Total dividends for the year ended 31 December 2022 amounted to R810 000.¦ 750 000 ordinary shares were issued by the company.¦ All purchases and sales of inventories were on credit.¦ The market price of each Company A share was R10 on 31 December 2022.