1. What amount should be reported as net cash provided by investing activities? A. 2,200,000B. 1,400,000C. 3,000,000D. 800,000 2. What amount should be reported as cash balance at year-end? A. 3,500,000B. 9,300,000C. 5,500,000D. 5,800,000 Answer questions 2 and 3 based on the given information:Chuzzle Company used the direct method to prepare the statement of cash flows. The entityhad the following cash flows during the current year:4,000,0002,000,000Cash receipts from issuance of ordinary sharesCash receipts from customersCash receipts from dividends on long-term investmentsCash receipts from repayment of loan made to another entityCash payments for wages and other operating expensesCash payments for insuranceCash payment for dividendsCash payments for taxesCash payment to purchase landCash balance - beginning300,0002,200,0001,200,000100,000200,000400,000800,0003,500,000

Calculation of Net Cash provided by Investing Activities Net Cash provided by Investing Activities =…

Chuzzle Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during the current year: Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payment for dividends Cash payments for taxes Cash payment to purchase land Cash balance - beginning 4,000,000 2,000,000 300,000 2,200,000 1,200,000 100,000 200,000 400,000 800,000 3,500,000

Chuzzle Company used the direct method to prepare the statement of cash flows. The entity had the following cash flows during the current year: Cash receipts from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payments for insurance Cash payment for dividends Cash payments for taxes Cash payment to purchase land Cash balance - beginning 4,000,000 2,000,000 300,000 2,200,000 1,200,000 100,000 200,000 400,000 800,000 3,500,000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section22.3: Preparing A Statement Of Cash Flows

Problem 1OYO

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