Additional info:
Cash dividends were paid. The company sold equipment for $14 that was originally purchased for $8 and that had accumulated depreciation of $1. It did not issue any bonds payable or repurchase any of its own common stock.
The net cash provided by (used in) operating activities for the year was:
A: $214
B: 207
C: $261
D: 299
Homework Answers
correct answer is B. $207
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Additional info:
Cash dividends were paid. The company sold equipment for $14
that was originally purchased...
Additional info: Cash dividends were paid. The company sold equipment for $14 that was originally purchased...
Additional info:
Cash dividends were paid. The company sold equipment for $14
that was originally purchased for $8 and that had accumulated
depreciation of $1. It did not issue any bonds payable or
repurchase any of its own common stock.
The net change in cash and cash equivalents was:
Ending Balance Beginning $23 Less accamulated deprectation Total assets 402 LLatintses and stocsrotdes eqty payable Bonds payable 70 42 Retained earnings 321 161 Total liabilities & stockholders equity $539 $402 Income...
The following additional data were provided: 1. Dividends declared and paid were $35,000. 2. During the...
The following additional data were provided:
1.
Dividends declared and paid
were $35,000.
2.
During the year equipment was
sold for $17,000 cash. This equipment cost $28,000 originally and
had a book value of $17,000 at the time of sale.
3.
All depreciation expense is
in the operating expenses.
4.
All sales and purchases are
on account.
5.
Accounts payable pertain to
merchandise suppliers.
6.
All operating expenses except
for depreciation were paid in cash.
Prepare a statement of cash...
Ware Company declared and paid $89,000 in cash dividends during the year. The Company’s comparative balance...
Ware Company declared and paid $89,000 in cash dividends during the year. The Company’s comparative balance sheet and income statement for last year appear below. No dispositions of plant and equipment occurred during the year. Statement of Financial Position Ending Beginning Balance Balance Cash............................................................................................................................................ $ 38,000 $ 23,000 Accounts receivable................................................................................................................. 31,000 39,000 Inventory.................................................................................................................................... 26,000 38,000 Prepaid expenses....................................................................................................................... 21,000 12,000 Long-term investments............................................................................................................ 250,000 220,000 Plant and equipment................................................................................................................ 410,000 360,000 Accumulated depreciation...................................................................................................... (262,000) (222,000) Total assets................................................................................................................................ $514,000 $470,000 Accounts payable..................................................................................................................... $ 75,000...
14. 2 The following changes took place last year in Pavolik Company’s balance sheet accounts: Asset...
14. 2 The following changes took place last year in Pavolik Company’s balance sheet accounts: Asset and Contra-Asset Accounts Liabilities and Stockholders' Equity Accounts Cash $ 10 D Accounts payable $ 32 I Accounts receivable $ 14 I Accrued liabilities $ 14 D Inventory $ 38 D Income taxes payable $ 19 I Prepaid expenses $ 9 I Bonds payable $ 124 I Long-term investments $ 11 D Common stock $ 56 D Property, plant, and equipment $ 245 I...
Exercise 14-4 Prepare a Statement of Cash Flows [LO14-1, LO14-2] The following changes took place last...
Exercise 14-4 Prepare a Statement of Cash Flows [LO14-1, LO14-2] The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Cash Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liabilities and Stockholders' Equity Accounts $ 10 D Accounts payable $32 $ 14 1 Accrued liabilities $ 14 D $ 38 D Income taxes payable $ 19 1 $ 91 Bonds payable $124 I $ 11 D Common stock...
We were unable to transcribe this imageRavenna Company is a merchandiser that uses the indirect method...
We were unable to transcribe this imageRavenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Balance Beginning Balance $ 77,400 63,400 85,100 225,900 228.000 92,550 68,200 Cash and cash equivalents Accounts receivable Inventory Total current assets 77,500 238,250 217,000 Property, plant, and equipment Less accumulated depreciation 76,000 54,250 Net property, plant, and equipment 152,000 162,750 Total assets...
Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash and cash equiv...
Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash and cash equivalents $ 16 $ 12 Accounts receivable 296 230 Inventory 157 195 Prepaid expenses 9 6 Total current assets 478 443 Property, plant, and equipment 505 427 Less accumulated depreciation (85 ) (71 ) Net property, plant, and equipment 420 356 Long-term investments 28 34 Total assets $ 926 $ 833 Liabilities and Stockholders' Equity Accounts payable $ 304 $ 226 Accrued liabilities 70...
Mary Walker, president of Rusco Company, considers $37,000 to be the minimum cash balance for operating...
Mary Walker, president of Rusco Company, considers $37,000 to be the minimum cash balance for operating purposes. As can be seen from the following statements, only $32,000 in cash was available at the end of this year. Since the company reported a large net income for the year, and also issued both bonds and common stock, the sharp decline in cash is puzzling to Ms. Walker. Rusco Company Comparative Balance Sheet at July 31 This Year Last Year Assets Current...
Mary Walker, president of Rusco Company, considers $42,000 to be the minimum cash balance for operating...
Mary Walker, president of Rusco Company, considers $42,000 to be
the minimum cash balance for operating purposes. As can be seen
from the following statements, only $37,000 in cash was available
at the end of this year. Since the company reported a large net
income for the year, and also issued both bonds and common stock,
the sharp decline in cash is puzzling to Ms. Walker.
Rusco Company
Comparative Balance Sheet
at July 31
This Year
Last Year
Assets
Current...
Weaver Company Comparative Balance Sheet at December31 Last This Year Year Assets Cash Accounts receivable Inventory...
Weaver Company Comparative Balance Sheet at December31 Last This Year Year Assets Cash Accounts receivable Inventory Prepaid expense:s Total current assets Property, plant, and equipment $9 15 240 175 6 436 470 85 385 19 $1,017 840 340 125 10 484 610 93 517 16 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total...
Additional info:
Cash dividends were paid. The company sold equipment for $14
that was originally purchased for $8 and that had accumulated
depreciation of $1. It did not issue any bonds payable or
repurchase any of its own common stock.
The net change in cash and cash equivalents was:
Ending Balance Beginning $23 Less accamulated deprectation Total assets 402 LLatintses and stocsrotdes eqty payable Bonds payable 70 42 Retained earnings 321 161 Total liabilities & stockholders equity $539 $402 Income...
The following additional data were provided:
1.
Dividends declared and paid
were $35,000.
2.
During the year equipment was
sold for $17,000 cash. This equipment cost $28,000 originally and
had a book value of $17,000 at the time of sale.
3.
All depreciation expense is
in the operating expenses.
4.
All sales and purchases are
on account.
5.
Accounts payable pertain to
merchandise suppliers.
6.
All operating expenses except
for depreciation were paid in cash.
Prepare a statement of cash...
Exercise 14-4 Prepare a Statement of Cash Flows [LO14-1, LO14-2] The following changes took place last year in Pavolik Company's balance sheet accounts: Asset and Contra-Asset Accounts Cash Accounts receivable Inventory Prepaid expenses Long-term investments Property, plant, and equipment Accumulated depreciation Liabilities and Stockholders' Equity Accounts $ 10 D Accounts payable $32 $ 14 1 Accrued liabilities $ 14 D $ 38 D Income taxes payable $ 19 1 $ 91 Bonds payable $124 I $ 11 D Common stock...
We were unable to transcribe this imageRavenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Balance Beginning Balance $ 77,400 63,400 85,100 225,900 228.000 92,550 68,200 Cash and cash equivalents Accounts receivable Inventory Total current assets 77,500 238,250 217,000 Property, plant, and equipment Less accumulated depreciation 76,000 54,250 Net property, plant, and equipment 152,000 162,750 Total assets...
Mary Walker, president of Rusco Company, considers $42,000 to be
the minimum cash balance for operating purposes. As can be seen
from the following statements, only $37,000 in cash was available
at the end of this year. Since the company reported a large net
income for the year, and also issued both bonds and common stock,
the sharp decline in cash is puzzling to Ms. Walker.
Rusco Company
Comparative Balance Sheet
at July 31
This Year
Last Year
Assets
Current...
Weaver Company Comparative Balance Sheet at December31 Last This Year Year Assets Cash Accounts receivable Inventory Prepaid expense:s Total current assets Property, plant, and equipment $9 15 240 175 6 436 470 85 385 19 $1,017 840 340 125 10 484 610 93 517 16 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total...
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