Questions #26-27 are based on the following: A company had the following cash flows for the year: (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Paid employee salaries, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (f) Sold equipment, $40,000 (g) Sold services to customers, $120,000 26. What amount would be reported for net investing cash flows on the Statement of Cash Flows? ($20,000). $70,000. $155,000. $40,000. A. B. C. D. 27. What amount would be reported for net financing cash flows on the Statement of Cash Flows? ($20,000). $70,000. $155,000. $40,000. A. B. C. D.

Questions #26-27 are based on the following: A company had the following cash flows for the year: (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Paid employee salaries, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (f) Sold equipment, $40,000 (g) Sold services to customers, $120,000 26. What amount would be reported for net investing cash flows on the Statement of Cash Flows? ($20,000). $70,000. $155,000. $40,000. A. B. C. D. 27. What amount would be reported for net financing cash flows on the Statement of Cash Flows? ($20,000). $70,000. $155,000. $40,000. A. B. C. D.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter6: Cash And Internal Control

Section: Chapter Questions

Problem 6.2E

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Analysis reveals that a company had a net increase in cash of $21,540 for the current year. Net cash provided by operating activities was $19,400; net cash used in investing activities was $10,700 and net cash provided by financing activities was $12,840. If the year-end cash balance is $26,100, the beginning cash balance was: $47,640. $16,980. $4,560. $42,080. $43,080.
Umberg 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.
Presented below are accounts of Cutie Company Additional: During the year, the owner made an additional investment of 20,000 and withdrawals of 50,000. Cutie company beginning capital is 617,600 and its net income for the year is 75,000. Instructions: Prepare the Statement of Financial Position in account form and report form and determine the amount of cash. Prepare the supporting notes.
Classify each cash transaction between Operating (O), Investing (I), or Financing (F) activities; and prepare the Statement of Cash Flow for Cougar Corp. using the following data: Cash at the beginning of the year: $650,000 Cash Receipts from: Bank (Interest on CD) $6,000 Customers Sales $872,000 Interest $33,000 Dividends $3,600 Cash payments for: Dividends $2,500 Raw Materials $ 3,800 Wages Expense $4,000 Land $10,000 Interest $4,000
Classify each cash transaction between Operating (O), Investing (I), or Financing (F) activities using the following data: __Cash at the beginning of the year: $650,000 Cash Receipts from: __Bank (Interest on CD) $6,000 __Customers Sales $872,000 __Interest $33,000 __Dividends $3,600 Cash payments for: __Dividends $2,500 __Raw Materials $ 3,800 __Wages Expense $4,000 __Land $10,000 __Interest $4,000
MechTech Incorporated started the year with $120,400 cash and reported net cash provided by operating activities of $242,500, cash paid for dividends of $50,200, cash received from stock issuance of $47,000, cash paid for equipment purchases of $158,500, cash paid for intangible assets of $125,500, and cash paid on bank loan of $43,500. Required: Calculate the following: 1. Net cash provided by (used in) investing activities. 2. Net cash provided by (used in) financing activities. 3. Ending cash. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate net cash provided by (used in) investing activities. (Amounts to be deducted should be indicated with a minus sign.) Investing Activities Cash paid for equipment purchases Net cash provided by (used in) investing activities + $ Amount (158,500) (158,500)
Tech Gear Corporation started the year with $100,000 cash and reported net cash provided by operating activities of $200,000, cash paid for dividends of $40,000, cash received from stock issuance of $30,000, cash paid for equipment purchases of $150,000, cash paid for intangible assets of $100,000, and cash paid on bank loan of $35,000. create a statement of cash flows from the above information
Mississippi Products Co. 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 out to purchase inventory for $345,000, to employees for $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.
During the year, a company had the following cash flows. Cash inflow from A/R collections $85,000 Cash inflow from sale of treasury stock Cash outflow from inventory purchases Cash inflow from sale of product Cash outflow from purchase of capital equipment $100,000 $61,000 $32,000 $28,000 What was the total operating cash flow for the year? Group of answer choices Cash inflow of $72,000 Cash outflow of $28,000 Cash outflow of $157,000 Cash inflow of $56,000
Georgia Products Co. had the following positive cash flows during the current year: received cashfrom customers of $750,000; received bank loans of $35,000; and received cash from the sale ofcommon stock of $145,000. During the same year, cash was paid out to purchase inventory for$335,000, to employees for $230,000, and for the purchase of plant assets of $190,000. Calculatethe amount of cash provided by or used for operating activities by the direct method.
The balance sheet of Computer World reports total assets of $350,000 and $450,000 at the beginning and end of the year, respectively. Sales revenues are $800,000, net income is $100,000, and net cash flows from operating activities are $150,000. What is Computer World's cash return on assets? Multiple Choice 37.5% 25.0% 33.3% 42.9%
Assume a company had net income of $62,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 41,000 $ 46,000 Inventory $ 57,000 $ 53,000 Current liabilities: Accounts payable $ 42,000 $ 49,000 Income taxes payable $ 14,000 $ 14,000 The company sold a piece of equipment for cash proceeds of $25,000. The original cost of the asset was $85,000 and its accumulated depreciation at the time of sale was $65,000. The company’s accumulated depreciation account has beginning and ending balances of $320,000 and $280,000, respectively. Based solely on the information provided, the net cash provided by operating activities would be: Multiple Choice $71,000. $73,000. $83,000. $76,000.