Financial Accounting, 8th Edition
8th Edition
ISBN: 9780078025556
Author: Robert Libby, Patricia Libby, Daniel Short
Publisher: McGraw-Hill Education
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Chapter 12, Problem 8MCQ
To determine
Ascertain the net
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Use the following information to determine cash flows from financing activities. a. Issued common stock for $40 cash. b. Paid $70 cash to retire a note payable at its $70 maturity value. c. Paid cash dividend of $15. d. Paid $5 cash to acquire its treasury stock.
Use the following information to calculate the net
cash provided (inflow) or used by (outflow) from
financing activities for the Lulu Corporation:
(a) Net income, $10,000
(b) Sold common stock for $40,000 cash
(c) Paid cash dividend of $13,000
(d) Repayment of bond payable, $26,000
(e) Purchased equ
for $12,000 cash
(f) Issued long term mortgage notes payable for
$250,000 cash.
(Note: in the answer space, write only the
number, with no $ signs or commas. That is, if
your answer is $1,000, white it as : 1000 ).
Answer:
a. What is the net cash provided by financing activities?b. What is the net cash used in investing activities?
Chapter 12 Solutions
Financial Accounting, 8th Edition
Ch. 12 - Prob. 1QCh. 12 - Prob. 2QCh. 12 - Prob. 3QCh. 12 - What are the major categories of business...Ch. 12 - Prob. 5QCh. 12 - Prob. 6QCh. 12 - Prob. 7QCh. 12 - Prob. 8QCh. 12 - Compare the two methods of reporting cash flows...Ch. 12 - Prob. 10Q
Ch. 12 - Prob. 11QCh. 12 - What are noncash investing and financing...Ch. 12 - Prob. 13QCh. 12 - Prob. 1MCQCh. 12 - Prob. 2MCQCh. 12 - Prob. 3MCQCh. 12 - Prob. 4MCQCh. 12 - Prob. 5MCQCh. 12 - Prob. 6MCQCh. 12 - Prob. 7MCQCh. 12 - Prob. 8MCQCh. 12 - Prob. 9MCQCh. 12 - Prob. 10MCQCh. 12 - Prob. 1MECh. 12 - Determining the Effects of Account Changes on Cash...Ch. 12 - Prob. 3MECh. 12 - Prob. 4MECh. 12 - Prob. 5MECh. 12 - Prob. 6MECh. 12 - Prob. 7MECh. 12 - Prob. 1ECh. 12 - Prob. 2ECh. 12 - Prob. 3ECh. 12 - Prob. 4ECh. 12 - Prob. 5ECh. 12 - Prob. 6ECh. 12 - Prob. 7ECh. 12 - Prob. 8ECh. 12 - Prob. 9ECh. 12 - Prob. 10ECh. 12 - Inferring Balance Sheet Changes from the Cash Flow...Ch. 12 - (Chapter Supplement B) Computing and Reporting...Ch. 12 - During the period, Sanchez Company sold some...Ch. 12 - Prob. 14ECh. 12 - Prob. 15ECh. 12 - Prob. 16ECh. 12 - Prob. 17ECh. 12 - Prob. 18ECh. 12 - Prob. 19ECh. 12 - Prob. 20ECh. 12 - Prob. 21ECh. 12 - Prob. 22ECh. 12 - Prob. 1PCh. 12 - Prob. 2PCh. 12 - Prob. 3PCh. 12 - Prob. 4PCh. 12 - Prob. 5PCh. 12 - Prob. 6PCh. 12 - Prob. 1APCh. 12 - Prob. 2APCh. 12 - Prob. 3APCh. 12 - Prob. 1CPCh. 12 - Prob. 2CPCh. 12 - Prob. 3CPCh. 12 - Prob. 4CPCh. 12 - Prob. 5CPCh. 12 - Prob. 6CPCh. 12 - Prob. 1CC
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- Provide journal entries to record each of the following transactions. For each, also identify: *the appropriate section of the statement of cash flows, and **whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). A. reacquired $30,000 treasury stock B. purchased inventory for $20,000 C. issued common stock of $40,000 at par D. purchased land for $25,000 E. collected $22,000 from customers for accounts receivable F. paid $33,000 principal payment toward note payable to bankarrow_forwardStatement of Cash Flows The following are Mueller Companys cash flow activities: a. Net income, 68,000 b. Increase in accounts receivable, 4,400 c. Receipt from sale of common stock, 12,300 d. Depreciation expense, 11,300 e. Dividends paid, 24,500 f. Payment for purchase of building, 65,000 g. Bond discount amortization, 2,700 h. Receipt from sale of long-term investments at cost, 10,600 i. Payment for purchase of equipment, 8,000 j. Receipt from sale of preferred stock, 20,000 k. Increase in income taxes payable, 3,500 l. Payment for purchase of land, 9,700 m. Decrease in accounts payable, 2,900 n. Increase in inventories, 10,300 o. Beginning cash balance, 18,000 Required: Prepare Mueller Company's statement of cash flows.arrow_forwardCompute cash flows from financing activities using the following company information. Cash received from short-term loan. . . . . . . . . . . $20,000 Cash dividends paid. . . . . . . . . . . . . . . . . . . $16,000 Purchase of short-term stock investments. . . . . . 5,000 Interest paid. . . . . . . . . . . . . . . . . . . . . . . . . 8,000arrow_forward
- Which of the following would be listed as cash outflow on the statement of cash flows? A. Common stock was issued for $10,000 B. Equipment was sold for $120,000 cash C. Bonds were issued for $30,000 cash D. Cash dividends of $2,000 were paidarrow_forwardUse the information given below to determine this company's cash flows from financing activities: a. net income was $472,000. b. issued common stock for $75,000 cash. c. Paid cash dividend of $13,000. d. paid $120,000 cash to settle a note payable at its $120,000 maturity value. e. paid $118,000 cash to acquire its treasury stock. f. purchased equipment for $92,000 cash.arrow_forwardCompute cash flows from investing activities using the following company information. Sale of short-term stock investments. . . . . . . . . . $ 6,000 Cash purchase of used equipment. . . . . . . $5,000 Cash collections from customers. . . . . . . . . . . . . . 16,000 Depreciation expense . . . . . . . . . . . . . . . . . 2,000arrow_forward
- Duning the year, Next Tec Corp. had the following cash flows receipt trom customers, $21,000, receipt from the bank for long term borrowing. $6,200, payment to supplers, $5,200, payment of dividends, $1700, payment to workers, $3.000, and payment for machenery $9,000. What amount would be reported for net financing cash flows in the statement of cash fows? Mutiple Choice S4500 $6 200 (19,000 SA000 20 s0 ype here to search Ps 40% S/1/20 K N Alt Ctri Home oOOoarrow_forwardChapter 13 Statement of Cash Flows-Direct Method The comparative balance sheet of Canace Products Inc. for December 31, 20Y6 and 20Y5, is as follows: Dec. 31, 20Y6 Dec. 31, 20Y5 Assets Cash $287,620 $265,700 Accounts receivable (net) 104,190 95,430 Inventories 294,120 282,540 Investments 109,460 Land 150,860 Equipment 324,520 249,790 Accumulated depreciation (75,970) (67,360) Total assets $1,085,340 $935,560 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $196,450 $184,310 Accrued expenses payable (operating expenses) 19,540 24,320 Dividends payable 10,850 8,420 Common stock, $10 par 58,610 45,840 Paid-in capital: Excess of issue price over par-common stock 220,320 127,240 Retained earnings 579,570 545,430 Total liabilities and stockholders' equity $1,085,340 $935,560 The income statement for the year ended December 31, 20Y6, is as follows: Sales $1,730,890 Cost of goods sold 712,700 Gross profit $1,018,190 Operating expenses: Depreciation expense $8,610…arrow_forwardWhat is the net cash used in financing activities?arrow_forward
- 1. What is the net cash provided by financing activities? 2.What is the net cash used in investing activities?arrow_forwardUse the following information to calculate the net cash provided or used by financing activities. (a) Paid $29,800 cash to settle long-term notes payable at its $29,800 maturity value. (b) Acquired machinery for $12,900 cash. (c) Paid cash dividend of $13,900. (d) Net Income was $10,900. (e) Issued common stock for $40,900 cash. Statement of Cash Flows (partial) Cash flows from financing activitiesarrow_forwardRequirements Calculate the following items for the statement of cash flows: proceeds of the sale? b. Beginning and ending Retained Earnings were $35,000 and $71,000, respectively. Net income for the period was $61,000, and stock dividends were $11,000. How much were the cash dividends? were the cash proceeds of the sale? Cash proceeds from the sale were Requirement b. Beginning and ending Retained Earnings are $. Cash dividends were and $ $arrow_forward
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