Find the cash flow from financing activities of public trading company which was in the business of steel trading for the year March 2019. 1.Interest paid of P202,000 on long term borrowings 2.Redemption of short term deposit amounting to P400,000 3.Proceeds from issue of equity share capital is P2,500,000 4.Bond interest received was P70,000 5.Goodwill purchased from an firm amounting to P1,300,000 6.Proceeds of P1,220,000 from long term borrowing 7.Redemption of debentures paid P2,280,000 8.Underwriting commission of P70,000

Find the cash flow from financing activities of public trading company which was in the business of steel trading for the year March 2019. 1.Interest paid of P202,000 on long term borrowings 2.Redemption of short term deposit amounting to P400,000 3.Proceeds from issue of equity share capital is P2,500,000 4.Bond interest received was P70,000 5.Goodwill purchased from an firm amounting to P1,300,000 6.Proceeds of P1,220,000 from long term borrowing 7.Redemption of debentures paid P2,280,000 8.Underwriting commission of P70,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 32BE

See similar textbooks

Similar questions

Dunn Company recognized a 5,000 unrealized holding gain on investment in Starbuckss long-term bonds during 2019. The company classified its investment as an available-for-sale security. How would this information be reported on a statement of cash flows prepared using the indirect method?
Comprehensive: Balance Sheet from Statement of Cash Flows Mills Company prepared the following balance sheet at the beginning of 2019: Additional information related to the statement of cash flows: 1. The long-term bonds have a face value of 6,000 and were issued on December 31, 2019. 2. The building was purchased on December 30, 2019. 3. The land was sold at its original cost. 4. The common stock which was sold totaled 300 shares and had a par value of 10 per share. Required: Next Level Prepare a classified balance sheet for Mills as of December 31, 2019. (Hint. Review the information on the statement of cash flows and the balances in the beginning balance sheet accounts to determine the impact on the ending balance sheet accounts.)
BT21 Inc. has recorded the following transactions on its book for the year 2021. How much total Cash Inflow from financing activities that BT21 should reflected on its Statement of Cash Flow:i. Payment for interest of the issued bonds on April 1, 2021, 900.ii. Cash dividend received on the short-term investment, 5,000iii. Depreciation on plant that manufactures goods for sale, 6,000.iv. Payment of income tax on gain on sale of treasury bills, 2,000.v. Issued 500 ordinary shares for 50,000.vi. Received cash from interest on the acquired treasury bonds of BigHit Corp, 2,400.vii. Payment for marketable securities, 12,000.
Preparing the Cash Flow from Financing Activities Section Gomez Corp. reported the following items for the year ended December 31, 2020. Item Dec 31, 2020 Purchased an investment in debt securities (long-term) for cash $ 42,000 Sold equipment for cash, previously used in operations 35,000 Paid cash for dividends 14,000 Issued common stock for cash 140,000 Retired a 10-year bond payable by repaying the face value at maturity 112,000 Sold investment in equity securities (held for one-year) 15,400 Borrowed cash by signing a nine-month note payable 21,000 Extended a loan to a customer for a building expansion 11,200 Use a negative sign with your answer to indicate a cash outflow, if applicable. Calculate net cash from financing activities for the year ended December 31, 2020. Answer
3. How much is the total payment of purchases during the year? 4. How much is the total cash disbursements during the year? 5. How much is the cash accountability at 12/31/2020? 6. What is adjusted balance of cash at 12/31/2020?
1. Cash paid to purchase long-term investments would be reported in the statement of cash flows in a.the cash flows from financing activities section. b.the cash flows from investing activities section. c.a separate schedule. d.the cash flows from operating activities section. 2. On the first day of the fiscal year, a company issues a $1,000,000, 7%, 5-year bond that pays semiannual interest of $35,000 ($1,000,000 × 7% × 1/2), receiving cash of $884,171. Journalize the first interest payment and the amortization of the related bond discount/premium using the straight-line method. Round answers to the nearest dollar. If an amount box does not require an entry, leave it blank or enter "0".
1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What is the total shareholders equity?
1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What total amount should be reported as as current assets?
1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What total amount should be reported as as current liabilities?
Problem 17-4 (IAA) Pro Forest Company provided the following information for the preparation of a statement of cash flows for the current year Fear state 2020 2019 Cas! Accc Inve Inve Lan Pro Acc Goc 300,000 Cash and cash equivalents Trading securities Accounts receivable, net of allowance Inventory Property, plant and equipment (net) Goodwill Discount on bonds payable 603,000 300,000 200,000 600,000 900,000 2,000,000 200,000 72,000 520,000 840,000 2,100,000 200,000 100,000 4,675,000 4,260,000 Acc No Во Sh. Sh Re Tr 490,000 310,000 800,000 800,000 210,000 1,000,000 Accounts payable Accrued expenses Bonds payable Preference share capital, P100 par, each share convertible into two ordinary shares Ordinary share capital, P20 par Share premium Retained earnings 500,000 700,000 400,000 650,000 400,000 820,000 500,000 1,355,000 A 4,675,000 4,260,000 1. Additional information 2. 1. Net income for the current year was P1,705,000. 2. Cash dividend paid during the year totaled P1,000,000. 3. The…
28. mELON Inc. has recorded the following transactions on its book for the year 2021. How much total Cash Inflow from financing activities that BT21 should reflected on its Statement of Cash Flow:i. Payment for interest of the issued bonds on April 1, 2021, 900.ii. Cash dividend received on the short-term investment, 5,000iii. Depreciation on plant that manufactures goods for sale, 6,000.iv. Payment of income tax on gain on sale of treasury bills, 2,000.v. Issued 500 ordinary shares for 50,000.vi. Received cash from interest on the acquired treasury bonds of BigHit Corp, 2,400.vii. Payment for marketable securities, 12,000.
Magic Sunrays Ltd is a Johannesburg Stock Exchange (JSE) listed company. Below is an extract from its statement of cash flows for the year ended 31 March 2022. Cash flows from financing activities Proceeds from issue of share capital Repayment of long-term borrowings Dividends paid 20 000 (25 000) (80 000) Payment of finance-lease liabilities Net cash used in financing activities (10 000) (95 000) Net increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 16 000 8 000 24 000 Required: Explain each of the cash inflows and outflows in the financing activities section of Magic Sunrays Ltd's statement of cashflows. 4.1 4.2 Explain the changes in cash and cash equivalents section at the end of the statement of cashflows. Hint: explain each item. Magic Sunrays Ltd has one million shares in issue at 31 March 2022. Each share has a value of R1.50. Calculate the dividend per share and 4.3 the dividend yield for the year…