1. Invested cash- P200,000, computer- P25,000, and sofa- P6,000. a. Cash 231,000 Pachicks, Capital 231,000 b. Cash 200,000 Equipment 25,000 Furniture 6,000 Pachicks, Capital 231,000 c. Pachicks, Capital 231,000 Cash 200,000 Equipment 25,000 Furniture 6,000 d. Cash 231,000 Pachicks, Capital 200,000 Equipment 25,000 Furniture 6,000 B A D

1. Invested cash- P200,000, computer- P25,000, and sofa- P6,000. a. Cash 231,000 Pachicks, Capital 231,000 b. Cash 200,000 Equipment 25,000 Furniture 6,000 Pachicks, Capital 231,000 c. Pachicks, Capital 231,000 Cash 200,000 Equipment 25,000 Furniture 6,000 d. Cash 231,000 Pachicks, Capital 200,000 Equipment 25,000 Furniture 6,000 B A D

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 10MCQ

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answers are given. Only need solutions What is the net cash provided by operating activities? a) P90,000b) P108,000c) P153,000-answerd) P75,000 51. Using the data in no. 50, what is the net cash provided (used) by investingactivities?a) (P108,000)-answerb) P90,000c) P18,000d) (P132,000) 52.Using the data in no. 50, what is the net cash provided (used) by financing activities?a) (P162,000)-answerb) P72,000c) (P90,000)d) P18,000
Sheffield Company has the following information available: Net income, $22000; Cash provided by operations, $33000; Cash Sales, $82500; Capital expenditures, $13200; and Cash dividends, $6600. What is Sheffield’s free cash flow? a. $52800. b. $13200. c. $2200. d. $29700.
E16A-28 Preparing the statement of cash flows—direct method The income statement and additional data of Value Corporation follow: a. Collections from customers are $13,000 more than sales. b. Dividend revenue, interest expense, and income tax expense equal their cash amounts. c. Payments to suppliers are the sum of cost of goods sold plus advertising expense. d. Payments to employees are $3,000 more than salaries expense. e. Cash payment for the acquisition of plant assets is $102,000. f. Cash receipts from sale of land total $29,000. g. Cash receipts from issuance of common stock total $38,000. h. Payment of long-term notes payable is $10,000. i. Payment of dividends is $9,000. j. Cash balance at June 30, 2017, was $21,000; at June 30, 2018, it was $43,000. Prepare Value Corporation’s statement of cash flows for the year ended June 30, 2018. Use the direct method.
1. What amount should be reported as net cash provided by investing activities? A. 2,200,000 B. 1,400,000 C. 3,000,000 D. 800,000 2. What amount should be reported as cash balance at year-end? A. 3,500,000 B. 9,300,000 C. 5,500,000 D. 5,800,000
1. Compute the current assets.Cash Php 25,867.00Barney’s drawing 50,485.00Accounts Payable 78,584.00Notes Receivable 45,051.00Building 1,500,125.00Inventory 33,669.002. Compute the Net Income.Service Income Php 356,867.00Prepaid Rent 16,800.00Interest Expense 1,523.00Barney’s drawing 21,786.00Taxes 4,544.00Utilities Expense 3,651.003. The liabilities of Bb Barn are equal to 1/3 of thetotal assets. The owner's equity is P 6,300,500. Whatis the amount of the liabilities?4. Prepare journal entries to the following transactionsfor the year 2020.Sept. 1 V Barney invested Php 150,000 in Barney repair ShopSept 3 Purchased equipment worth Php 80,000 on account.Sept. 12 Paid Php 25, 000 for the equipmentpurchased dated Sept. 3, 2020.Sept. 15 Rendered service amounting toPhp 45,000.Sept. 17 Paid salaries to employees, Php16,000
Mazaya Company has the following information available: Net Income R.O. 55,000; Cash Provided by Operations R.O. 68,200; Cash Sales R.O. 143,000; Capital Expenditures R.O.24,200; Dividends Paid R.O. 6,600. What is Mazaya's free cash flow? Select one: a. R.O.61,600 b. R.O.37,400 c R.O.44,000 d. R.O.24,200
If a gain of $15,000 is incurred in selling (for cash) office equipment having a book value of $100,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is: A) $95,000 B) $115,000 C) $100,000 D) $15,000
Revenue R100 000, Debtors (opening R50 000, closing R110 000), Calculate Cash Receipts from Customers. Select one: a. R60 000 b. R40 000 c. R110 000 d. R100 000
A machine with a cost of $175,000 and accumulated depreciation of $94,000 is sold for $87,000 cash. The amount reported as a source of cash under cash flows from investing activities is a. $81,000. b. $6,000. c. $87,000. d. $0; this is a financing activity. e. $0; this is an operating activity.
7. Use the following cash flow data for Rocket Transport to find Rocket’s:a. Net cash provided by or used in investing activities.b. Net cash provided by or used in financing activities.c. Net increase or decrease in cash for the year. Cash dividend $100,000Purchase of bus $73,000Interest paid on debt $45,000Sales of old equipment $92,000Repurchase of stock $95,000Cash payments to suppliers $115,000Cash collections from customers $500,000
If a gain of $8,652 is realized in selling (for cash) office equipment having a book value of $50,620, the total amount reported in the investing activities section of the statement of cash flows is a.$41,968 b.$59,272 c.$8,652 d.$50,620
Keisler Corporation reports: Cash provided by operating activities $240,000 Cash used by investing activities $110,000 Cash provided by financing activities $140,000 Beginning cash balance $70,000 What is Keisler's ending cash balance? a) $270,000 b) $340,000 c) $490,000 d) $560,000.