ZuoTi.Pro
Question

ACCOUNTING

The transactions of Collar Company for the year ended December 31,

       2016 Included the following:

 

                    Purchase of real estate for cash (cash was borrowed from

                                           a bank)                                                                5,500,000

                    Sale of investment securities for cash                                        5,000,000

                    Dividend paid                                                                              6,000,000

                    Issuance of common stock for cash                                           2,500,000

                    Purchase of patent for cash                                                        1,250,000

                    Payment of bank loan                                                                 1,500,000

                    Increase in customers’ deposit                                                      200,000

                    Issuance of bonds for cash                                                         3,000,000

 

                    In Collar’s net cash provided by financing activities was:

                             

                          A. 5,000,000                                                C. 4,500,000

                          B. 3,500,000                                                D. 5,500,000 


Financing-Activities   Cash-Activities   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Request Professional Answer

Request Answer!

We need at least 9 more requests to produce the answer.

1 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)

All students who have requested the answer will be notified once they are available.
Know the answer?
Add Answer to:
ACCOUNTING
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Similar Homework Help Questions

  • ACCOUNTING (HELP I HAVE BEEN TRYING TO GET THE ANSWER BUT I CANT GET IT RIGHT)

    The transactions of Collar Company for the year ended December 31,       2016 Included the following:                     Purchase of real estate for cash (cash was borrowed from                                           a bank)                                                                5,500,000                    Sale of investment securities for cash                                        5,000,000                    Dividend paid                                                                              6,000,000                    Issuance of common stock for cash                                           2,500,000                    Purchase of patent for cash                                                        1,250,000                    Payment of bank loan                                                                 1,500,000                    Increase in customers’ deposit                                                      200,000                    Issuance of bonds for cash                                                         3,000,000Using the information from number 18 above, how much was the net cash      used...

  • Accountancy

    The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant:Trial BalanceDetails/AccountsDr $Cr $Purchases of direct raw materials24,200,000Stock of direct raw materials 1 January 20185,500,000Wages paid to manufacture goods12,000,000Insurance2,000,000Electricity1,450,000Cash at bank28,000,000Accounts payable3,500,000Discounts450,000500,000Return of direct raw materials200,000Cash in hand600,000Work-in-progress 1 January 20183,000,000Salaries3,500,000Returns inward of finished goods300,000Carriage inwards of direct raw materials1,000,000Indirect raw materials 1 January 20182,500,000Accounts receivable7,500,000Provision for bad and doubtful debts75,000Machinery10,000,000Accumulated depreciation machinery4,000,000Office furniture2,000,000Purchase...

  • The following trial balance was extracted from the books of G & E Production Company Ltd...

    The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...

  • The following trial balance was extracted from the books of G & E Production Company Ltd...

    The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...

  • (b) The following financial statement is for the current year. From the past, you know that...

    (b) The following financial statement is for the current year. From the past, you know that 10% of fixed-rate mortgages prepay each year. You also estimate that 10% of checkable deposits and 20% of savings accounts are rate sensitive. Assets (RM) 15,000,000 5,500,000 Reserves Securities < 1 year 1 to 2 years >2 years 8,000,000 Residential Mortgages Variables-rate Fixed-rate Liabilities (RM) 1,500,000 Checkable Deposits Money Market 6,000,000 Deposits 8,000,000 Savings Accounts 12,000,000 CDs Variables-rate <1 year 7,000,000 1 to 2...

  • Peavy Corp.'s transactions for the year ended December 31, 2018 included the following: • Acquired 50%...

    Peavy Corp.'s transactions for the year ended December 31, 2018 included the following: • Acquired 50% of Gant Corp.'s common stock for $300,000 cash which was borrowed from a bank. • Issued 5,000 shares of its preferred stock for land having a fair value of $480,000. • Issued 600 of its 11% debenture bonds, due 2023, for $588,000 cash. • Purchased a patent for $330,000 cash. • Paid $180,000 toward a bank loan. • Sold available-for-sale securities for $1,194,000. •...

  • The following trial balance was extracted from the books of G & E Production Company Ltd...

    The following trial balance was extracted from the books of G & E Production Company Ltd on 31 December 2018 and presented to you the Financial Accountant: Trial Balance Details/Accounts Dr $ Cr $ Purchases of direct raw materials 24,200,000 Stock of direct raw materials 1 January 2018 5,500,000 Wages paid to manufacture goods 12,000,000 Insurance 2,000,000 Electricity 1,450,000 Cash at bank 28,000,000 Accounts payable 3,500,000 Discounts 450,000 500,000 Return of direct raw materials 200,000 Cash in hand 600,000 Work-in-progress...

  • You have been recently assigned as the new owner representative and asset manager at Capital Hotel...

    You have been recently assigned as the new owner representative and asset manager at Capital Hotel Investments, Inc and will oversee 12 hotel properties including the Hilton Garden Inn of Tysons, VA. Following a poor operational 2016 at the Hilton hotel at Tysons, Capital Hotel Investments’ CFO asked you to work with the Hilton’s property management to identify why the hotel’s cash position remains the same despite the realizing $300,000 gain on investments in 2016.   The property director of finance...

  • On May 1, 2017 you had the following items in your business: Stock, $14,500,000; Motor vehicles,...

    On May 1, 2017 you had the following items in your business: Stock, $14,500,000; Motor vehicles, $15,000,000; Creditors/Accounts payable- J. Downey $1,500,000, P. Wright $2,000,000; Cash in hand, $300,000; Pre-paid insurance, $80,000; Bank loan, $4,000,000; Furniture & fittings, $3,600,000; Accrued rent, $100,000; Cash at Bank, $12,000,000; Debtors/Accounts receivable-A. Howard $3,000,000, S. Simpson $2,800,000; K. Kirk $350,000. During May 2017 the following business were transacted: May 1- Bought goods on credit from B. Burke $4,500,000. 3- Paid rent with cheque $150,000....

  • 1.) What can creditors, investors, and other users learn from an analysis of the cash flow...

    1.) What can creditors, investors, and other users learn from an analysis of the cash flow statement? 2.) Identify the following as financing activities (F) or investing activities (I):             a.) Purchase of equipment             b.) Purchase of treasury stock.             c.) Reduction of long-term debt.             d.) Sale of building             e.) Resale of treasury stock.             f.) Increase in short-term debt.             g.) Issuance of common stock.             h.) Purchase of land.             i.) Purchase of common stock...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT