Blue Spruce corp. | ||
Statement of Cash Flows | ||
For the year ended December 31, 2017 | ||
Cash flows from operating activities: | ($) | ($) |
Cash received from customers | 9,860 | |
Cash paid for goods and services | -6,900 | |
Net cash flows from operating activities | 2,960 | |
Cash flows from investing activities: | ||
Cash paid for property and equipment | -1,560 | |
Net cash used by investing activities | -1,560 | |
Cash flows from financing activities: | ||
Cash received from issuance of long - term debts | 460 | |
Cash received from issuance of common stock | 130 | |
Cash paid for repurchase of common stock | -1,030 | |
Cash paid for repayment of debt | -114 | |
Cash paid for dividends | -15 | |
Net cash used by financing activities | -569 | |
Net increase in cash | 831 | |
Cash at the beginning of period | 1,400 | |
Cash at the end of period | 2,231 | |
Note: while answering the question must use minus sign in case of negative terms. |
Exeris 1-13 Your anser is partially comeet. Try agan. Suppcsc the tolloning data arc derived from...
Question 8 0.78/1 Your answer is partially correct Suppose the following data are derived from the 2017 financial statements of Southwest Airlines (All dollars are in millions.) Southwest has a December 31 year-end Cash balance, Jaruary 1 2017 Cash paid for repayment of debt Cash received from issuance of common stock Cash received from issuance of long-term debt Cash received from customers Cash pald for property and equipment Cash paid for dividends Cash paid for repurchase of common stock Cash...
Exercise 12-5 Your answer is partially correct. Try again. The following information is available for Bridgeport Corp. for the year ended December 31, 2017. Beginning cash balance Accounts payable decrease Depreciation expense Accounts receivable increase Inventory increase Net income Cash received for sale of land at book value Cash dividends paid Income taxes payable increase Cash used to purchase building Cash used to purchase treasury stock Cash received from issuing bonds $ 48,690 4,003 175,284 8,872 11,902 307,396 37,870 12,984...
Comprehensive Accounting Cycle Review 11-1
Blue Spruce Corp.’s balance sheet at December 31, 2016, is
presented below.
BLUE SPRUCE CORP.
Balance Sheet
December 31, 2016
Cash
$25,000
Accounts payable
$25,500
Accounts receivable
46,000
Common stock ($10 par)
85,000
Allowance for doubtful accounts
(1,900
)
Retained earnings
119,067
Supplies
4,800
Land
40,500
Buildings
137,000
Accumulated depreciation—buildings
(21,833
)
$229,567
$229,567
During 2017, the following transactions occurred.
1.
On January 1, 2017, Blue issued 1,500 shares of $40 par, 8%
preferred stock...
Your answer is partially correct. Try again. On January 1, 2016, when its $30 par value common stock was selling for $80 per share, Headland Corp. issued $11,500,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation's common stock. The debentures were issued for $12,420,000. The present value of the bond payments at the time of issuance was $9,775,000, and the...
Exercise 17-8 Your answer is partially correct. Try again. Here are comparative balance sheets for Velo Company. VELO COMPANY Comparative Balance Sheets December 31 2016 2017 Assets Cash $73,400 $33,100 Accounts receivable 71,200 85,800 Inventory 170,200 187,000 Land 101,000 72,800 Equipment 260,600 200,800 Accumulated depreciation-equipment (66,100) (33,900) Total $596,700 $559,200 Liabilities and Stockholders' Equity Accounts payable $35,000 $47,500 Bonds payable 151,400 203,400 Common stock ($1 par) 217,600 174,100 Retained earnings 192,700 134,200 Total $596,700 $559,200 Additional information: 1. Net income...
Problem 14-7 Your answer is partially correct. Try again. On April 1, 2017, Indigo Company sold 29,700 of its 11%, 15-year, $1,000 face value bonds at 97, Interest payment dates are April 1 and October 1, and the company uses the straight-line method of bond discount amortization. On March 1, 2018, Indigo took advantage of favorable prices of its stock to extinguish 5,700 of the bonds by issuing 188,100 shares of its $10 par value common stock. At this time,...
Exercise 3-6 During 2017, its first year of operations as a delivery service, Blue Spruce Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $121,000 in cash. 2. Borrowed $38,000 by issuing a note. 3. Purchased delivery trucks for $64,000 cash. 4. Received $16,000 from customers for services performed. 5. Purchased supplies for $3,200 on account. 6. Paid rent of $5,300. 7. Performed services on account for $11,700. 8. Paid salaries of...
Problem 12-9A Your answer is partially correct. Try again. Condensed financial data of Vaughn Manufacturing follow Vaughn Manufacturing Comparative Balance Sheets December 31 Assets 2017 2016 $109,080 $65,340 Cash Accounts receivable Inventory Prepaid expenses Long-term investments Plant assets Accumulated depreciation Total 51,300 138,848 35,100 147,150 118,530 151,875 38,340 186,300 384,750327,375 (67,500)(70,200) $921,375 $694,913 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock $ 137,700 22,275 148,500 297,000 315,900 $921,375 $90,855 28,350 197,100 236,250 142,358 $694,913 Retained...
Exercise 3-03 Your answer is partially correct. Try again During 2022, its first year of operations as a delivery service, Ayyal Corp. entered into the following transactions 1. Issued shares of common stock to investors in exchange for $173,000 in cash 2. Borrowed $50.000 by Issuing bonds 3. Purchased delivery trucks for $53,000 cash 4. Received $14,000 from customers for services performed 5. Purchased supplies for $3,700 on account. 6. Paid rent of $5,400. 7. Performed services on account for...
omiy ahswers recorded on your seantren will be graded swer from among those given and 1) Which of the following transactions should be classified as investing statement of cash flows? Increase in accounts receivable. Sale of property, plant and equipment. Retirement of bonds payable Issuance of common stock to the shareholders. as investing activities on an entity's 2) Which of the following events will appear owing events will appear in the cash flows from financing activities section of the statement...