The following information on cash transactions were reported by FDNACCT Co.: Proceeds from bank loan = P420,000 Proceeds from sale of equipment = P45,000 Investment of owner = P25,000 Payment of operating expenses = P320,000 Purchase of equipment = P258,000 Payment of principal of Notes Payable = P45,000 How much is cash provided by (used in) Investing Activities? Enter as a negative number if the answer is used in Investing Activities.

The following information on cash transactions were reported by FDNACCT Co.: Proceeds from bank loan = P420,000 Proceeds from sale of equipment = P45,000 Investment of owner = P25,000 Payment of operating expenses = P320,000 Purchase of equipment = P258,000 Payment of principal of Notes Payable = P45,000 How much is cash provided by (used in) Investing Activities? Enter as a negative number if the answer is used in Investing Activities.

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 9MCQ: Refer to the information for Cornett Company above. What amount should Cornett report on its...

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Kingbird Import Company had credit sales of $1824000. The beginning accounts receivable balance was $188000 and the ending accounts receivable balance was $319000. Using the direct method of reporting cash flows from operating activities, what were the cash collections from customers during the period? $2069000. $1824000. $2012000. O $1693000. OO
The following information on cash transactions were reported by FDNACCT Co.: Receipts from sale of goods = P390,000 Investment of owner = P28,000 Purchase of equipment = P858,000 Receipt of interest income = P2,000 Purchase of office supplies - P53,000 Withdrawal by owner = P20,000 How much is cash provided by (used in) Financing Activities? Enter as a negative number if the answer is used in Financing Activities.
The following information on cash transactions were reported by FDNACCT Co.: Proceeds from bank loan = P420,000 Proceeds from sale of equipment = P45,000 Investment of owner = P25,000 Payment of operating expenses = P320,000 Purchase of equipment = P258,000 Payment of principal of Notes Payable = P45,000 How much is cash provided by (used in) Investing Activities? Enter as a negative number if the answer is used in Investing Activities.
For each transaction, indicate how the item would appear on the cash flow 15. Treasury bills were purchased for P50,000 cash. , Indicate whether the items is: (I) (0) (N) a cash inflow = a cash outflow = neither a cash inflow or cash outflow L Indicate also how the item would be classified on the cash flow statement using the following symbols. (0) (I) (F) (N) = operating activity investing activity financing activity does not appear in the statement of cash flow %3D Transactions a b 1. Credit sales for the month are P240,000 2. Cash sales for the month are P200,000. 3. P40,000 of accounts receivable are collected. 4. Five-year bonds are issued at the face value of P600,000. 5. 2,000 shares of common stock are issued for P400,000. 6. Paid P4,000 in interest on a notes payable. 7. The company borrows P80,000 from the bank and signs a five-year note. 8. New equipment is purchased for P100,000 cash. 9. Repaid P20,000 in principal on a mortgage payable. 10. Paid P24,000 to employees for…
If a gain of $8,077 is realized in selling (for cash) office equipment having a book value of $59,041, the total amount reported in the investing activities section of the statement of cash flows is?
FDN Trading provided the following information during the current year. Proceeds from bank loans, 950,000 Proceeds from sale of second-hand equipment, #88,500 Interest paid on bank loan, $50,000 Payment of bank loan principal, $498,000 Withdrawals of owner, P132,000 Additional investments of owner, #519,000 How much should be reported on the Statement of Cash Flows as net cash provided by (used in) financing activities? Note: Encode as a negative amount if the final answer is used in.
Staley Inc. reported the following data: Line Item Description Amount Net income $449,900 Depreciation expense 55,600 Loss on disposal of equipment 32,900 Increase in accounts receivable 20,800 Increase in accounts payable 10,500 Prepare the "Cash flows from (used for) operating activities" section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. blankStaley Inc.Statement of Cash Flows (partial) Line Item Description Amount Amount Cash flows from (used for) operating activities: $Net income Adjustments to reconcile net income to net cash flows from (used for) operating activities: Depreciation Loss on disposal of equipment Changes in current operating assets and liabilities: Increase in accounts receivable Increase in accounts payable Net cash flows from operating activities $Net cash…
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In the course of preparing a company's statement of cash flows, the following figures are to be included in the calculation of net cash from operating activities. 2$ 980,000 40,000 130,000 100,000 80,000 Depreciation charges Profit on sale of non-current assets Increase in inventories Decrease in receivables Increase in payables What will the net effect of these items be in the statement of cash flows?
You are analyzing the Statement of Cash flows for... You are analyzing the Statement of Cash flows for Coffey Corporation. You have the following information: Beginning Cash: $220 Operating Activity: $497 Investment Activity: $598 Financing Activity: -$212 Calculate the Net cash increase/decrease:
1. Can you show your solution? Easter Company provided the following data for the preparation of the statement of cash flows: Increase in accounts receivable - 300,000; Decrease in accrued expenses - 170,000; Net loss - 250,000; Depreciation - 1,000,000; Gain on sale of machinery 230,000. What amount should be reported as net cash flows from operating activities using indirect method? 2. In a statement of cash flows using indirect method, a decrease in prepaid expenses is?
Demers Inc. reported the following data: Net income $409,500 Depreciation expense 46,460 Gain on disposal of equipment 37,860 Decrease in accounts receivable 25,340 Decrease in accounts payable 5,930 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, cash payments, decreases in cash and for any adjustments, if required.