In 2020, Flounder Corporation had net cash provided by operating activities of $505,000, net cash used by investing activities of $987,000, and net cash provided by financing activities of $527,000. At January 1, 2020, the cash balance was $325,000. Compute December 31, 2020, cash.
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8.
In 2020, Flounder Corporation had net cash provided by operating activities of $505,000, net cash used by investing activities of $987,000, and net cash provided by financing activities of $527,000. At January 1, 2020, the cash balance was $325,000.
Compute December 31, 2020, cash.
Cash, December 31, 2020 |
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- Selected information from Brook Corporations accounting records and financial statements for 2019 follows: On the statement of cash flows for the year ended December 31, 2019, Brook should disclose a net increase in cash in the amount of: a. 1,700,000 b. 2,400,000 c. 3,700,000 d. 4,200,000The following information was taken from Oregon Corporations accounting records for 2019: Oregons statement of cash flows for the year ended December 31, 2019, should show the following amounts for investing and financing activities, based on the preceding information:Interest and Income Taxes Staggs Company has prepared its 2019 statement of cash flows. In conjunction with this statement, it plans to disclose the interest and income taxes it paid during 2019. The following information is available from its 2019 income statement and beginning and ending balance sheet: Required: 1. Compute the amounts of interest paid and income taxes paid by Staggs for 2019. 2. Next Level Under IFRS, how would interest paid and income taxes paid be reported?
- Use the following excerpts from Indigo Companys balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $225,000.Donnelly Company's balance in Interest Payable was $80,000 at December 31, 2020 and $65,000 at December 31, 2019. Interest expense was $92,000 for 2020 and $84,000 for 2019. What amount of cash disbursements for Interest would be reported in Donnelly's 2020 net cash provided by operating activities presented on a direct basis? O a. S69,000 O b. $84,000 O c. $72,000 O d. $77,000Presented below is selected information pertaining to the Cone Company:§ Cash balance, January 1, 2021- P13,000§ Accounts receivable, January 1, 2021- P19,000§ Collections from customers in 2021- P210,000§ Capital account balance, January 1, 2021- P38,000§ Total assets, January 1, 2021- P75,000§ Cash investment added, July 1, 2021-P5,000§ Total asset, December 31, 2021- P101,000§ Cash balance, December 31, 2021- P20,000§ Accounts receivable, December 31, 2021- P36,000§ Merchandise taken for personal use during 2021- P11,000§ Total liabilities, December 31, 2021- P41,000How much is the net income for 2021? A. 28,000 B. 26,000 C. 30,000 D. 22,000
- Presented below is selected information pertaining to the Like Company:# Cash balance, January 1, 2021- P13,000# Accounts receivable, January 1, 2021- P19,000# Collections from customers in 2021- P210,000# Capital account balance, January 1, 2021- P38,000# Total assets, January 1, 2021- P75,000# Cash investment added, July 1, 2021-P5,000# Total asset, December 31, 2021- P101,000# Cash balance, December 31, 2021- P20,000# Accounts receivable, December 31, 2021- P36,000# Merchandise taken for personal use during 2021- P11,000# Total liabilities, December 31, 2021- P41,000How much is the net income for 2021?1. PIOLO Corporation had the following account balances for 2020: 31-Dec 67,200 24,600 Accounts Payable Prepaid Rent Expense Accounts Receivable (net) 1-Jan 58,200 37,200 66,600 84,000 PIOLO's 2020 profit is P450,000. What amount should PIOLO include as net cash provided by operating activities in its 2002 statement of cash flows? a. 436,200 b. 445,200 c. 453,600 d. 454,200 2. PIOLO Company's 2020 income statement reported cost of goods sold as P135,000. Additional information is as follows: 31-Dec-20 31-Dec-19 Inventory Accounts Payable 30,000 13,000 22,500 19,500 If PIOLO uses the direct method, what amount should PIOLO report as cash paid to suppliers in its 2020 statement of cash flows? a. 121,000 b. 134,000 с. 136,000 d. 149,000 Use the following for the next three questions: PIOLO Company uses the direct method to prepare its statement of cash flows. The company had the following cash flows during 2020: Cash receipts from the issuance of ordinary shares Cash receipts from…Presented below is selected information pertaining to the Cassie Inc:Cash balance, January 1, 2020- P13,000Accounts receivable, January 1, 2020- P19,000Collections from customers in 2020- P210,000 Capital account balance, January 1, 2020- P38,000Total assets, January 1, 2020- P75,000Cash investment added, July 1, 2020-P5,000Total asset, December 31, 2020- P101,000 Cash balance, December 31, 2020- P20,000Accounts receivable, December 31, 2020- P36,000Merchandise taken for personal use during 2020- P11,000Total liabilities, December 31, 2020- P41,000How much is the net income for 2020?
- REQUIRED Use the information provided below to prepare the Cash Flow Statement for the year ended 30 June 2020. INFORMATION The information given below was extracted from the books of Siyakha Limited for the financial year ended 30 June 2020. STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE: 2020 R 2019 R ASSETS Property, plant and equipment (See note to the financial statements below.) 14 826 000 13 998 000 Inventory 1 539 000 1 638 000 Accounts receivable 6 243 000 4 572 000 Bank 861 000 480 000 23 469 000 20 688 000 EQUITY AND LIABILITIES Ordinary Share Capital 9 300 000 8 220 000 Retained Income 2 031 000 1 701 000 Loan: OVS Bank 8 100 000 5 940 000 Accounts payable 3 795 000 3 549 000 Company tax payable 150 000 564 000 Dividends payable 93 000 714 000 23 469 000 20 688 000 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR…Required information [The following information applies to the questions displayed below.] Portions of the financial statements for Parnell Company are provided below. For the Revenues and gains: Sales Cost of goods sold Gain on sale of building Expenses and loss: Salaries Insurance Depreciation PARNELL COMPANY Income Statement Income tax expense Year Ended December 31, 2021 ($ in thousands) Interest expense Loss on sale of equipment Income before tax Net income $ 820 10 $310 122 42 125 52 13 $830 664 166 83 $ 8356. Presented below is selected information pertaining to the Cone Company:§ Cash balance, January 1, 2021- P13,000§ Accounts receivable, January 1, 2021- P19,000§ Collections from customers in 2021- P210,000§ Capital account balance, January 1, 2021- P38,000§ Total assets, January 1, 2021- P75,000§ Cash investment added, July 1, 2021-P5,000§ Total asset, December 31, 2021- P101,000§ Cash balance, December 31, 2021- P20,000§ Accounts receivable, December 31, 2021- P36,000§ Merchandise taken for personal use during 2021- P11,000§ Total liabilities, December 31, 2021- P41,000How much is the net income for 2021? CHOICES: P28,000 P22,000 P30,000 P26,000