Financial accounting
3rd Edition
ISBN: 9780077506902
Author: David J Spieceland Wayne Thomas Don Herrmann
Publisher: Mcgraw-Hill
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Chapter 4, Problem 4.18E
To determine
To Calculate: The
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The following information pertains to an entity’s cash account:
Cash balance, beginning
880,000
Cash receipts from the sale of goods
8,000,000
Cash receipts from dividends and interest
80,000
Cash payments for interest
250,000
Cash payments to suppliers of goods
6,000,000
Cash payments to employees
800,000
Cash payments to acquire property, plant and equipment
1,200,000
Cash receipts from sales of property, plant and equipment
280,000
Cash payments to acquire equity or debt instruments of other entities
520,000
Cash receipts from sales equity or debt instruments of other entities
430,000
Cash proceeds from issuing shares
1,600,000
Cash payments to owners to redeem the entity’s shares
340,000
Cash proceeds from borrowings
2,100,000
Cash repayments of amounts borrowed
1,700,000
The entity’s cash balance at the end of the period is
a. 2,560,000
b. 2,650,000
c. 2,480,000
d. 2,840,000
The Pioneer Company has provided the following account balances:
Cash $38,100;
Short-term investments $4,100;
Accounts receivable $48,500;
Supplies $6,100;
Long-term notes receivable $2,100;
Equipment $96,500;
Factory Building $181,000;
Intangible assets $6,100;
Accounts payable $29,900;
Accrued liabilities payable $3,950;
Short-term notes payable $14,200;
Long-term notes payable $92,500;
Common stock $181,000;
Retained earnings $60,950.
What are Pioneer's total current assets?
How much is the net cash from (used in) operating activities?
Chapter 4 Solutions
Financial accounting
Ch. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - What is meant by the fraud triangle, and what can...Ch. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - What is meant by separation of duties?Ch. 4 - Prob. 10RQ
Ch. 4 - Prob. 11RQCh. 4 - Prob. 12RQCh. 4 - Prob. 13RQCh. 4 - Prob. 14RQCh. 4 - Prob. 15RQCh. 4 - Prob. 16RQCh. 4 - Prob. 17RQCh. 4 - Prob. 18RQCh. 4 - Prob. 19RQCh. 4 - Prob. 20RQCh. 4 - Prob. 21RQCh. 4 - 22.What are two primary reasons that the companys...Ch. 4 - Prob. 23RQCh. 4 - Prob. 24RQCh. 4 - Prob. 25RQCh. 4 - Prob. 26RQCh. 4 - Prob. 27RQCh. 4 - Describe the operating, investing, and financing...Ch. 4 - Prob. 29RQCh. 4 - Prob. 30RQCh. 4 - Prob. 4.1BECh. 4 - Match each of the following components of internal...Ch. 4 - Prob. 4.3BECh. 4 - Prob. 4.4BECh. 4 - During the year, the following sales transactions...Ch. 4 - Prob. 4.6BECh. 4 - Prob. 4.7BECh. 4 - Prob. 4.8BECh. 4 - Prob. 4.9BECh. 4 - Prob. 4.10BECh. 4 - Prob. 4.11BECh. 4 - Prob. 4.12BECh. 4 - Prob. 4.13BECh. 4 - Prob. 4.14BECh. 4 - Prob. 4.15BECh. 4 - On January 12, Ferrell Incorporated obtains a...Ch. 4 - Prob. 4.17BECh. 4 - Prob. 4.18BECh. 4 - Prob. 4.1ECh. 4 - Prob. 4.2ECh. 4 - Prob. 4.3ECh. 4 - Prob. 4.4ECh. 4 - Below are several amounts reported at the end of...Ch. 4 - Prob. 4.6ECh. 4 - Prob. 4.7ECh. 4 - Prob. 4.8ECh. 4 - Prob. 4.9ECh. 4 - Prob. 4.10ECh. 4 - Prob. 4.11ECh. 4 - Prob. 4.12ECh. 4 - Prob. 4.13ECh. 4 - Prob. 4.14ECh. 4 - Prob. 4.15ECh. 4 - Below are cash transactions for Goldman...Ch. 4 - Prob. 4.17ECh. 4 - Prob. 4.18ECh. 4 - Consider the following information: 1.Service...Ch. 4 - Prob. 4.20ECh. 4 - Prob. 4.1APCh. 4 - Prob. 4.2APCh. 4 - Prob. 4.3APCh. 4 - Prob. 4.4APCh. 4 - Prob. 4.5APCh. 4 - Prob. 4.1BPCh. 4 - Prob. 4.2BPCh. 4 - Prob. 4.3BPCh. 4 - Prob. 4.4BPCh. 4 - Prob. 4.5BPCh. 4 - Prob. 4.1APCPCh. 4 - Prob. 4.2APFACh. 4 - Prob. 4.3APFACh. 4 - Prob. 4.4APCACh. 4 - Prob. 4.5APECh. 4 - Prob. 4.7APWC
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- Which item is added to net income when computing cash flows from operating activities? a. Gain on the disposal of property, plant, and equipment b. Increase in wages payable c. Increase in inventory d. Increase in prepaid rent Use the following information for Multiple-Choice Questions 11-9 and 11-10: Cornett Company reported the following information: cash received from the issuance of common stock, $150,000; cash received from the sale of equipment, $14,800; cash paid to purchase an investment, $20,000; cash paid to retire a note payable, $50,000; and cash collected from sales to customers, $225,000.arrow_forwardThe controller of Newstrom Software, Inc., provides the following information as the basis for a statement of cash flows: Cash collected from customers $785,400 Income taxes paid $58,300 Cash paid for interest 22,100 Payment of dividends 35,000 Cash paid to employees and other suppliers of goods and services 221,750 Principal payments on mortgage payable 60,000 Cash paid to suppliers of merchandise 395,540 Principal payments on long-term debt 22,000 Cash received from the issuance of long-term debt 40,000 Proceeds from the issuance of common stock 85,000 Cash received from disposal of equipment 42,500 Purchase of equipment 120,000 Cash received from sale of long-term investments 71,400 Purchase of long-term investments 75,800 I am having trouble classifying what goes into what category (Operating, Investing, or Financing) for the cash flows and so I wanted to ask about this question while I do it. Use a minus sign to indicate any cash outflows: 1. Using…arrow_forwardMetlock, Inc. recorded the following cash transactions for the year: Paid $149000 for salaries. Paid $64600 to purchase office equipment. Paid $14800 for utilities. Paid $5000 in dividends. Collected $286000 from customers. What was Metlock's net cash provided by operating activities? O $57600 O $137000 O $117200 O $122200arrow_forward
- The Pioneer Company has provided the following account balances: Cash $38,500; Short-term investments $4,500; Accounts receivable $6,500; Supplies $50,500; Long-term notes receivable $2,500; Equipment $98,500; Factory Building $185,000; Intangible assets $6,500; Accounts payable $29,500; Accrued liabilities payable $3,750; Short-term notes payable $15,000; Long-term notes payable $94,500; Common stock $185,000; Retained earnings $64,750. What are Pioneer's total current liabilities?arrow_forward26. Calculate cash flow from Operating Activities of R Ltd. : (i) If R Ltd. is a manufacturing firm, or (ii) If R Ltd. is a financing company. Informations: Cash Revenue from Operations 20,00,000 Collection from Trade Receivables 4,20,000 Wages paid to factory workers Interest received 1,50,000 6,50,000 Đividend received 1,40,000 Cash purchases Credit purchases 8,70,000 6,00,000 Payment to Trade Payables 5,90,000 10,00,000 Building purchased Interest paid interim Dividend paid 2,30,000 1,50,000arrow_forwardThe Tom Smith Corporation has the following items: Cash, $5,000; Machinery, $50,000; Building, $150,000; Note payable bank, $10,000; Savings, $10,000; Long-term debt, $50,000; Accounts payable, $30,000; Taxes payable, $5,000; Accounts receivable, $30,000; Inventory, $10,000; Depreciation Building, $35,000; Depreciation Machinery, $25,000; Land $50,000. Fixed assets for this Corporation are $45,000. $55,000. $95,000. $155,000. $190,000.arrow_forward
- The Tom Smith Corporation has the following items: Cash, $5,000; Machinery, $50,000; Building, $150,000; Note payable bank, $10,000; Savings, $10,000; Long-term debt, $50,000; Accounts payable, $30,000; Taxes payable, $5,000; Accounts receivable, $30,000; Inventory, $10,000; Depreciation Building, $35,000; Depreciation Machinery, $25,000; Land $50,000. Current assets for this Corporation are $45,000. $55,000. $95,000. $155,000. $190,000.arrow_forwardThe December 31, 2021 statement of financial position of PINK Company contained the following current assets: Cash and cash equivalents 2,400,525 Accounts receivable, net 1,775,500 Inventories 387,270 Prepaid expenses 500,000 An examination revealed that: Cash – includes P200,000 set aside for plant expansion; cash in bank which is net of bank overdraft, P13,000; and petty cash fund which includes IOUS of employees, P1,500 Accounts receivable – includes accounts with credit balances of P25,000; and accounts for write off, P12,500 Inventories – includes goods held on consignment, P27,000; goods in transit to customers, FOB destination, P50,250 Prepaid expenses – consist of an insurance applicable for 6 months starting October 16, 2021, P80,000arrow_forwardLouisiana Products Company had the following positive cash flows during the current year: received cash from customers of $750,000; received bank loans of $35,000; and received cash from the sale of common stock of $145,000. During the same year, cash was paid to purchase inventory for $345,000, to employees for wages of $230,000, and for the purchase of plant assets of $217,000. Calculate the amount of cash provided by or used for operating activities by the direct method. Not cash operating activitiesarrow_forward
- The December 31, 2021 statement of financial position of PINK Company contained the following current assets: Cash and cash equivalents 2,400,525 Accounts receivable, net 1,775,500 Inventories 387,270 Prepaid expenses 500,000 An examination revealed that: • Cash-includes P200,000 set aside for plant expansion; cash in bank which is net of bank overdraft, P13,000; and petty cash fund which includes IOUs of employees, P1,500 Accounts receivable - includes accounts with credit balances of P25,000; and accounts for write off, P12,500 Inventories - includes goods held on consignment, P27,000; goods in transit to customers, FOB destination, 50,250 Prepaid expenses - consist of an insurance applicable for 6 months starting October 16, 2021, 80,000. How much should PINK report as current assets on December 31, 2021?arrow_forwardWhat is the total current assets?arrow_forwardUmberg Company started the year with $119,200 cash and reported net cash provided by operating activities of $240,000, cash paid for dividends of $49,600, cash received from stock issuance of $46,000, cash paid for equipment purchases of $158,000, cash paid for intangible assets of $124,000, and cash paid on bank loan of $43,000. Required: Calculate the following: Net cash provided by (used in) investing activities. Net cash provided by (used in) financing activities. Ending cash. Free cash flow.arrow_forward
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