Question

Q 1.158: The following 2017 financial information pertains to Koosman Konsulting, established January 1, 2017. 1. Started company by selling $250,000 of common stock on January 1, 2017. 2. Invested $100,000 cash in an office building and computer systems in 2017. 3. Generated and collected revenues of $125,000 cash in 2017 by providing consulting services. 4. Paid all $80,000 of expenses in cash in 2017 5. Paid a $10,000 cash dividend in 2017 What were Koosmans cash flows for financing activities in 20177 A $10,000 B $125,000 C $250,000 D $240,000 stat SUBMITT Confidence
0 0
Add a comment Improve this question Transcribed image text
Answer #1
cash flow from financing activities
Selling common Stock 250000
Dividend paid -10000
Net Cash flow from financing activities 240000

So answer is d) $240000

Add a comment
Know the answer?
Add Answer to:
Q 1.158: The following 2017 financial information pertains to Koosman Konsulting, established January 1, 2017. 1....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Lily Zhang started a new business on January 1, 2017, called Zhang Consulting. She develops financial...

    Lily Zhang started a new business on January 1, 2017, called Zhang Consulting. She develops financial investment plans for young adults. During the business's first year of operations, the following activities Problem 5. Calculate the ai 1-7B Analyzing transactions and preparing financial statements CHECK FIGURES: 2. Cash balance, December 31, 2017 = $43,800 3. Profit = $5.700: Total assets = $324,200 occurred: a. Zhang invested $120,000 cash and office equipment valued at $10,000 in the business. b. Purchased a small...

  • I am still need the classified balance sheet as of 1/31/2017 and the owner's equity statement...

    I am still need the classified balance sheet as of 1/31/2017 and the owner's equity statement please On January 1, 2017, Bruce Wayne created a new Crime Watch agency, Waynes Watchdog Service. The following transactions occurred during the company’s first month of operations: Jan 1 To get the business started, Wayne invested $1,000,000 cash, computer equipment worth $125,000, and a patent on new technology worth $250,000. 2 Rented furnished office space by paying $20,000 cash for the first month’s rent...

  • The following information pertains to the January operating budget for Casey Corporation. ∙ Budgeted sales for...

    The following information pertains to the January operating budget for Casey Corporation. ∙ Budgeted sales for January $200,000 and February $100,000. ∙ Collections for sales are 60% in the month of sale and 40% the next month. ∙ Gross margin is 30% of sales. ∙ Administrative costs are $10,000 each month. ∙ Beginning accounts receivable is $20,000. ∙ Beginning inventory is $14,000. ∙ Beginning accounts payable is $65,000. (All from inventory purchases.) ∙ Purchases are paid in full the following...

  • On January 1, 2017, Parent Co., acquired 100 percent of the common stock of Sub Co...

    On January 1, 2017, Parent Co., acquired 100 percent of the common stock of Sub Co for $1,000,000 in cash. At that time, the building which had a remaining life of 20 years and was undervalued by 200,000 and they had a patent not recorded on their books of 100,000 with a remaining life of 10 years. Below is the relevant information for Parent Co. and Sub Co. Parent Co 12/31/18 Sub Co 12/31/16 Sub Co 13/31/17 Sub Co 13/31/18...

  • a. On January 1, 2017, Frances Corporation started doing business and the owners contributed $200,000 capital...

    a. On January 1, 2017, Frances Corporation started doing business and the owners contributed $200,000 capital in cash. b. The company paid $24,000 to cover the rent for the office space for the 24-month period from January 1, 2017, to December 31, 2018 c. On March 1, 2017, MSK Inc. entered into a consulting contract under which Frances Corporation promised to provide consulting to MSK Inc. In return, MSK promised to pay a fee of $150,000, which was to be...

  • On January 1, 2017, Bruce Wayne created a new Crime Watch agency, Waynes Watchdog Service. The...

    On January 1, 2017, Bruce Wayne created a new Crime Watch agency, Waynes Watchdog Service. The following transactions occurred during the company’s first month of operations: Jan 1 To get the business started, Wayne invested $1,000,000 cash, computer equipment worth $125,000, and a patent on new technology worth $250,000. 2 Rented furnished office space by paying $20,000 cash for the first month’s rent (it was a nice office!). 3 Purchased $3,500 of office supplies for cash. 3 Paid $5,000 cash...

  • The following information is taken from Roswell Corporation's financial statements:   December 31 2018 2017 Cash $92,000...

    The following information is taken from Roswell Corporation's financial statements:   December 31 2018 2017 Cash $92,000 $27,000 Account receivable    95,000    80,000 Allowance for doubtful accounts (4,500) (3,100) Inventory   145,000 175,000 Prepaid expense     7,500 6,800 Land 93,000    60,000 Buildings 287,000 244,000 Accumulated amortization (35,000) (13,000) Patents 20,000   35,000   $700,000 $611,700 Account payable $ 90,000 $ 84,000 Accrued Liabilities 54,000 63,000 Bonds payable 125,000 60,000 Common shares 100,000 100,000 Retained earnings-appropriated 80,000 10,000 Retained earnings-unappropriated 266,000 302,700 Treasury stock,...

  • Francisco Inc. acquired 100 percent of the voting shares of Beltran Company on January 1, 2017....

    Francisco Inc. acquired 100 percent of the voting shares of Beltran Company on January 1, 2017. In exchange, Francisco paid $450,000 in cash and issued 104,000 shares of its own $1 par value common stock. On this date, Francisco's stock had a fair value of $12 per share. The combination is a statutory merger with Beltran subsequently dissolved as a legal corporation. Beltran's assets and liabilities are assigned to a new reporting unit. The following reports the fair values for...

  • 29. The following facts pertains to ABC Corporation Retained earnings January 1, 2017 Cash dividends declared...

    29. The following facts pertains to ABC Corporation Retained earnings January 1, 2017 Cash dividends declared Retained earnings balance at December 31, 2017 Net Income for 2017 $400,000 $66,000 $500.000 Based on the above facts, what was the Net Income for 2017? a. $466,000 b. $34,000 c. $186,000 d. $232,000

  • Foreign Currency Translation US. Multi Company established a foreign subsidiary, called EorSub Company, on January 1,...

    Foreign Currency Translation US. Multi Company established a foreign subsidiary, called EorSub Company, on January 1, 2,013. The local currency is the crOwn; on the date the subsidiary was established, the exchange rate was 2 crowns to 1 U.S. dollar. U.S. Multi invested U.S.$6,000 to get things started. In addition, a local loan in the amount of 8,000 crowns, equivalent to U.S.$4,000, was obtained. EorSub used the 20,000 crowns in initial financing to acquire the following assets: (In crowns) 2,000...

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