Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance...
Buckley Corporation's most recent comparative balance sheet appears below:
| Comparative Balance Sheet | ||||||
| Ending Balance | Beginning Balance | |||||
| Assets: | ||||||
| Cash and cash equivalents | $ | 19 | $ | 20 | ||
| Accounts receivable | 26 | 27 | ||||
| Inventory | 56 | 51 | ||||
| Property, plant, and equipment | 686 | 550 | ||||
| Less accumulated depreciation | 430 | 363 | ||||
| Total assets | $ | 357 | $ | 285 | ||
| Liabilities and stockholders' equity: | ||||||
| Accounts payable | $ | 30 | $ | 34 | ||
| Bonds payable | 43 | 40 | ||||
| Common stock | 54 | 50 | ||||
| Retained earnings | 230 | 161 | ||||
| Total liabilities and stockholders' equity | $ | 357 | $ | 285 | ||
The company's net income for the year was $91 and it paid a cash dividend of $22. It did not dispose of any property, plant, and equipment during the year. The company did not retire any bonds payable or repurchase any of its own common stock.
The net cash provided by (used in) financing activities for the year was:
Multiple Choice
-
$(22)
-
$3
-
$4
-
$(15)
Homework Answers
Answer :- Calculation of Net Cash provided by ( used in) financing activities for the year :-
Issuance of bonds payable ( $43 - $40) = $3
Issuance of common stock ( $54 - $50) = $4
Payment of cash dividend = ($22)
Net cash provided by(used in) financing activities $(15)
So the correct answer is option D.( $15)
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Buckley Corporation's most recent comparative balance sheet
appears below:
Comparative Balance Sheet
Ending Balance
Beginning Balance...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance...
Buckley Corporation's most recent comparative balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 19 $ 20 Accounts receivable 26 27 Inventory 56 51 Property, plant, and equipment 686 550 Less accumulated depreciation 430 363 Total assets $ 357 $ 285 Liabilities and stockholders' equity: Accounts payable $ 30 $ 34 Bonds payable 43 40 Common stock 54 50 Retained earnings 230 161 Total liabilities and stockholders' equity $ 357 $ 285...
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