McCorey Corporation recorded the following events last year: Repurchase by the company of its own common...
McCorey Corporation recorded the following events last year:
| Repurchase by the company of its own common stock | $ | 41,000 |
| Sale of long-term investment | $ | 60,000 |
| Interest paid to lenders | $ | 15,500 |
| Dividends paid to the company's shareholders | $ | 70,000 |
| Collection by McCorey of a loan made to another company | $ | 46,000 |
| Payment of taxes to governmental bodies | $ | 25,500 |
On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities.
Based solely on the information above, the net cash provided by (used in) investing activities on the statement of cash flows would be:
Multiple Choice
-
$120,000
-
$60,000
-
$106,000
-
$92,000
Homework Answers
Sale or purchase of non current assets are covered under cash flow from investing activities. So in the given table only sale of long term investment is a part of cash flow from investing activities.
So correct answer is $60000
Add Answer to:
McCorey Corporation recorded the following events last year:
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Saved All-Star Automotive Company experienced the following accounting events during Year 1: 1. Performed services for...
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help me with this please.
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Cordell Inc. experienced the following events in Year 1, its
first year of operation:
Received $49,000 cash from the issue of common stock.
Performed services on account for $77,000.
Paid a $4,900 cash dividend to the stockholders.
Collected $55,000 of the accounts receivable.
Paid $49,000 cash for other operating expenses.
Performed services for $15,500 cash.
Recognized $1,900 of accrued utilities expense at the end of
the year.
Required
a. & c. Identify the events that result in
revenue or expense...
All-Star Automotive Company experienced the following accounting events during 2018: 1. Performed services for $14,700 cash. 2. Purchased land for $7,700 cash. 3. Hired an accountant to keep the books. 4. Received $37,000 cash from the issue of common stock. 5. Borrowed $9,400 cash from State Bank. 6. Paid $4,700 cash for salary expense. 7. Sold land for $9,400 cash. 8. Paid $3,700 cash on the loan from State Bank. 9. Paid $4.900 cash for utilities expense. 10. Paid a...
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The following are summary cash transactions that occurred during the year for Hiliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for : Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $820,000 28,000 260,000 56,000 360,00 t nces 34,000 200,000 520, eee 46, Bee Prepare the cash flows from investing and financing activities sections of HHC's statement of cash flows....
Saved All-Star Automotive Company experienced the following accounting events during Year 1: 1. Performed services for $14.400 cash. 2. Purchased land for $7,400 cash. 3. Hired an accountant to keep the books 4. Received $34,000 cash from the issue of common stock 5. Borrowed $8,800 cash from State Bank. 6. Paid $4,400 cash for salary expense. 7. Sold land for $8,800 cash. 8. Paid $3,400 cash on the loan from State Bank. 9. Paid $4,600 cash for utilities expense. 10....
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