Luke Corporation is a manufacturer of home furnishings. Selected financial information about Luke is listed below:...
Luke Corporation is a manufacturer of home furnishings. Selected financial information about Luke is listed below: Borrowed $850,000 from a bank. Purchased equipment for $210,000 in cash. Purchase investments for $285,000. Received dividends of $51,000 from an investment in Davis Corp. Paid dividends of $55,000. Issued shares of preferred stock for $500,000. Repurchased outstanding common shares using $100,000 in cash. Purchased land for $100,000 cash. Paid $36,000 interest expense on a bank loan. Increased Inventories by $320,000. Increased accounts receivable by $217,000. Increased accounts payable $85,000. Enter negative values as negative numbers.
Use the above information to calculate Luke's:
a. cash used or provided by investing activities
b. cash used or provided by financing activities
Homework Answers
Add Answer to:
Luke Corporation is a manufacturer of home furnishings. Selected
financial information about Luke is listed below:...
1- Marcellus Corp. provided the following information for calendar 2018: Marcellus adheres to ASPE. Proceeds from...
1- Marcellus Corp. provided the following information for calendar 2018: Marcellus adheres to ASPE. Proceeds from issuing bonds......................................200,000 Purchase of inventories ..............................................380,000 Purchase of long-term investment ..............................280,000 Dividends paid to preferred shareholders ................... 40,000 Proceeds from issuing preferred shares ..................... 160,000 Proceeds from sale of equipment ...............................40,000 The cash provided by (used in) investing activities during 2018 is a) $40,000. b) $(240,000). c) $(400,000). d) $(440,000). 2. Selected information from Regan Ltd.'s 2018 accounting records is as follows: Proceeds from...
9.6/2015 Donalty Corporation opened for business on January 1, 2022. The following information is available with...
9.6/2015 Donalty Corporation opened for business on January 1, 2022. The following information is available with regards to their accounts as of December 31, 2022: Accounts payable Accounts receivable Administrative expenses Bank loan Cash Common shares Dividends declared Equipment Insurance expense Interest expense Revenue Salaries expense $2,500 $5,500 $4,500 $55,000 $130,200 $51,000 $1,000 $25,000 $4,800 $4,000 $145,000 $78,500 The following information was also available for the year: Net cash used by operating activities was $50,200 Cash of $25,000 was paid...
The comparative statement of financial position for Crane Retailers Ltd. follows: CRANE RETAILERS LTD. Statement of...
The comparative statement of financial position for Crane Retailers Ltd. follows: CRANE RETAILERS LTD. Statement of Financial Position December 31 Assets 2018 2017 Cash $ 0 $ 20,000 Accounts receivable 70,000 47,000 Inventory 217,000 166.000 Furniture 130,000 162,000 Accumulated depreciation (34,000) (42000) Total assets $ 383,000 $353,000 Liabilities and Shareholders' Equity Bank overdraft $ 6,000 $ 0 Accounts payable 62,000 42,000 Bank loan payable (noncurrent) 95.000 108,000 $ 6,000 $ Liabilities and Shareholders'Equity Bank overdraft Accounts payable Bank loan payable...
Additional information: Accounts payable pertain to the purchase of inventory. Plant assets were sold for $40,000....
Additional information:
Accounts payable pertain to the purchase of inventory.
Plant assets were sold for $40,000. The cost of the plant assets
was $40,000.
All dividends are cash.
For the year 2005:
Cash received/collected from customers is:
Purchases for the year is:
Cash paid to suppliers is:
Depreciation expense is:
Cash paid for operating expenses is:
Cash paid for interest is:
Cash paid for income taxes is:
Cash provided by/(used in)*operating activities
is:
Cash provided by/(used in)*investing activities
is:
Cash...
[The following information applies to the questions displayed below.] Bearings & Brakes Corporation (B&B) was incorporated...
[The following information applies to the questions displayed below.] Bearings & Brakes Corporation (B&B) was incorporated as a private company. The company’s accounts included the following at June 30: Accounts Payable $ 88,000 Buildings 650,000 Cash 105,000 Common Stock 320,000 Equipment 178,000 Land 519,000 Notes Payable (long-term) 8,000 Retained Earnings 1,041,000 Supplies 5,000 During the month of July, the company had the following activities: A-Issued 4,400 shares of common stock for $440,000 cash. B-Borrowed $135,000 cash from a local bank,...
Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2017. Cash $50,000...
Presented below are selected ledger accounts of Tucker
Corporation as of December 31, 2017.
Cash
$50,000
Administrative expenses
100,000
Selling expenses
80,000
Net sales
540,000
Cost of goods sold
210,000
Cash dividends declared (2017)
20,000
Cash dividends paid (2017)
15,000
Discontinued operations (loss before income taxes)
40,000
Depreciation expense, not recorded in 2016
30,000
Retained earnings, December 31, 2016
90,000
Effective tax rate 30%
Exercise 4-8 Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2017...
just answer (The following Information applies to the questions displayed below.) Comparative financial statements for Weaver...
just answer
(The following Information applies to the questions displayed below.) Comparative financial statements for Weaver Company follow: Last Year $ 11 230 155 195 nces 480 441 165 -(71) Weaver Company Comparative Balance Sheet at December 31 This Year Assets Cash and cash equivalents $ 18 Accounts receivable 299 Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable $302 Accrued...
Brief Exercise 17-09 Hinck Corporation reported net cash provided by operating activities of $361...
Brief Exercise 17-09 Hinck Corporation reported net cash provided by operating activities of $361,200, net cash used by investing activities of $148,900 (including cash spent for capital assets of $203,600), and net cash provided by financing activities of $79,700 Dividends of $128,000 were paid. Calculate free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash fl Your answer is incorrect. Try again. Molino Inc. reported sales revenue of...
Information for XYZ Co. Account Description December 31, 2017 December 31, 2016 Assets Cash and Cash...
Information for XYZ Co. Account Description December 31, 2017 December 31, 2016 Assets Cash and Cash Equivalents 45,000 13,000 Accounts Receivable 91,000 88,000 Equipment 139,000 22,000 Accum. Deprec. – Equipment (17,000) (11,000) Total 258,000 112,000 Liabilities & Stockholders’ Equity Accounts Payable 20,000 15,000 Bonds Payable 100,000 0 Common Stock 100,000 80,000 Retained Earnings 38,000 17,000 Total 258,000 112,000 Additional Information (A) – Net income for 2017 was $44,000. (B) – New equipment was purchased in 2017 but not was sold...
Scandi Home Funishings, Inc. Kaj Rasmussen founded Scandi Home Furnishings as a corporation during mid-2016....
Scandi Home Funishings, Inc.
Kaj Rasmussen founded Scandi Home
Furnishings as a corporation during mid-2016. Sales during the
first full year (2017) of operation reached $1.3 million. Sales
increased by 15 percent in 2018 and another 20 percent in 2019.
However, after increasing in 2018 over 2017, profits fell sharply
in 2019, causing Kaj to wonder what was happening to his “pride and
joy” business venture. After all, Kaj worked as closely as possible
to a 24/7 pace, beginning...
9.6/2015 Donalty Corporation opened for business on January 1, 2022. The following information is available with regards to their accounts as of December 31, 2022: Accounts payable Accounts receivable Administrative expenses Bank loan Cash Common shares Dividends declared Equipment Insurance expense Interest expense Revenue Salaries expense $2,500 $5,500 $4,500 $55,000 $130,200 $51,000 $1,000 $25,000 $4,800 $4,000 $145,000 $78,500 The following information was also available for the year: Net cash used by operating activities was $50,200 Cash of $25,000 was paid...
The comparative statement of financial position for Crane Retailers Ltd. follows: CRANE RETAILERS LTD. Statement of Financial Position December 31 Assets 2018 2017 Cash $ 0 $ 20,000 Accounts receivable 70,000 47,000 Inventory 217,000 166.000 Furniture 130,000 162,000 Accumulated depreciation (34,000) (42000) Total assets $ 383,000 $353,000 Liabilities and Shareholders' Equity Bank overdraft $ 6,000 $ 0 Accounts payable 62,000 42,000 Bank loan payable (noncurrent) 95.000 108,000 $ 6,000 $ Liabilities and Shareholders'Equity Bank overdraft Accounts payable Bank loan payable...
Additional information:
Accounts payable pertain to the purchase of inventory.
Plant assets were sold for $40,000. The cost of the plant assets
was $40,000.
All dividends are cash.
For the year 2005:
Cash received/collected from customers is:
Purchases for the year is:
Cash paid to suppliers is:
Depreciation expense is:
Cash paid for operating expenses is:
Cash paid for interest is:
Cash paid for income taxes is:
Cash provided by/(used in)*operating activities
is:
Cash provided by/(used in)*investing activities
is:
Cash...
Presented below are selected ledger accounts of Tucker
Corporation as of December 31, 2017.
Cash
$50,000
Administrative expenses
100,000
Selling expenses
80,000
Net sales
540,000
Cost of goods sold
210,000
Cash dividends declared (2017)
20,000
Cash dividends paid (2017)
15,000
Discontinued operations (loss before income taxes)
40,000
Depreciation expense, not recorded in 2016
30,000
Retained earnings, December 31, 2016
90,000
Effective tax rate 30%
Exercise 4-8 Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2017...
just answer
(The following Information applies to the questions displayed below.) Comparative financial statements for Weaver Company follow: Last Year $ 11 230 155 195 nces 480 441 165 -(71) Weaver Company Comparative Balance Sheet at December 31 This Year Assets Cash and cash equivalents $ 18 Accounts receivable 299 Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable $302 Accrued...
Brief Exercise 17-09 Hinck Corporation reported net cash provided by operating activities of $361,200, net cash used by investing activities of $148,900 (including cash spent for capital assets of $203,600), and net cash provided by financing activities of $79,700 Dividends of $128,000 were paid. Calculate free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Free cash fl Your answer is incorrect. Try again. Molino Inc. reported sales revenue of...
Scandi Home Funishings, Inc.
Kaj Rasmussen founded Scandi Home
Furnishings as a corporation during mid-2016. Sales during the
first full year (2017) of operation reached $1.3 million. Sales
increased by 15 percent in 2018 and another 20 percent in 2019.
However, after increasing in 2018 over 2017, profits fell sharply
in 2019, causing Kaj to wonder what was happening to his “pride and
joy” business venture. After all, Kaj worked as closely as possible
to a 24/7 pace, beginning...
Most questions answered within 3 hours.
-
You are planning for retirement. You plan to work for 20 years.
Starting a year from...
asked 1 minute ago -
which of the following is capital?
the barn a farmer uses to hold the chickens he...
asked 3 minutes ago -
10. Two forces act on a 3 kg object, the gravitational force and
a second, constant...
asked 13 minutes ago -
Dividing Partnership Net Loss
Leigh Meadows and Byron Leef formed a partnership in which the
partnership...
asked 10 minutes ago -
Discuss how Entrepreneurial leadership style differs
from traditional leadership?
asked 36 minutes ago -
A futuristic design for a car is to have a large solid
disk-shaped flywheel within the...
asked 34 minutes ago -
Solid NaOH is added to a solution of 0.50 M acetic acid until
the pH of...
asked 37 minutes ago -
Which of the following statements is not a characteristic of the
Internal Revenue Code?
A) The...
asked 45 minutes ago -
Say true or false and explain it.
A heap is represented using an array. The array...
asked 55 minutes ago -
Explain how the DNA replication enzyme complex is organized and
functions, please don't copy paste from...
asked 54 minutes ago -
how
can personality contribute to one scoring high on the need to
evaluate measurement by Jarvis?
asked 55 minutes ago -
A high jumper is attempting to jump over a crossbar that is
placed at a height...
asked 1 hour ago