FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
24th Edition
ISBN: 9781260260724
Author: Wild
Publisher: MCG
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Textbook Question
Chapter 1, Problem 6APSA
Problem 1-6A Preparing a statement of cash flows P2
Following is selected financial information of Kia Company for the year ended December 31. 2019.
Cash used by investing activities $(2,000) Cash from operating activities $6,000 Net increase in cash 1.200 Cash, December 31, 2018 2,300 Cash used by financing activities (2,800)
Required
Prepare the 2019 year-end statement of cash flows for Kia Company.
Check Cash balance, Dec. 31, 2019, $3,500
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Brief Exercise 11-31 (Algorithmic)
Determining Net Cash Flow from Financing Activities
Madison Company reported the following information:
12/31/2019
12/31/2018
Notes payable
$95,000
$75,000
Common stock
120,000
80,000
Retained earnings
20,000
36,000
Madison reported net income of $39,000 for the year ended December 31, 2019. In addition, Madison repaid $27,000 of the notes payable during 2019.
Required:
Compute net cash flow from financing activities. Use a minus sign to indicate negative cash flows (outflows).
$
Question Content Area
Cash and accounts receivable for Adams Company are as follows:
Current Year
Prior Year
Cash
$63,104
$54,400
Accounts receivable (net)
34,736
66,800
What are the amounts and percentages of increase or decrease that would be shown with horizontal analysis?
Account
Dollar Change
Percent Change
Cash
$fill in the blank 1
fill in the blank 2 %
Accounts Receivable
$fill in the blank 4
fill in the blank 5 %
Chapter 1 Solutions
FUND.ACCT.PRIN.(LOOSELEAF)-W/ACCESS
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