Computing cash flows for investing and financing activities Consider the following facts for Java Jolt: Beginning and ending Retained Earnings arc $45,000 and $70,000, respectively, Net income for the period is $60,000. Beginning and ending Plant Assets arc $124,500 and $134,500, respectively. Beginning and ending Accumulated Depreciation—Plant Assets are $21,500 and $26,500, respectively. Depreciation Expense for the period is $17,000, and acquisitions of new plant assets total $29,000. Plant assets were sold at a $5,000 gain. Requirements How much are cash dividends? What was the amount of the cash receipt from the sale of plant assets?
Computing cash flows for investing and financing activities Consider the following facts for Java Jolt: Beginning and ending Retained Earnings arc $45,000 and $70,000, respectively, Net income for the period is $60,000. Beginning and ending Plant Assets arc $124,500 and $134,500, respectively. Beginning and ending Accumulated Depreciation—Plant Assets are $21,500 and $26,500, respectively. Depreciation Expense for the period is $17,000, and acquisitions of new plant assets total $29,000. Plant assets were sold at a $5,000 gain. Requirements How much are cash dividends? What was the amount of the cash receipt from the sale of plant assets?
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 41E: Determining Cash Flows from Investing Activities Burns Companys 2019 and 2018 balance sheets...
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Question
Computing
Consider the following facts for Java Jolt:
- Beginning and ending
Retained Earnings arc $45,000 and $70,000, respectively, Net income for the period is $60,000. - Beginning and ending Plant Assets arc $124,500 and $134,500, respectively.
- Beginning and ending
Accumulated Depreciation —Plant Assets are $21,500 and $26,500, respectively. - Depreciation Expense for the period is $17,000, and acquisitions of new plant assets total $29,000. Plant assets were sold at a $5,000 gain.
Requirements
- How much are cash dividends?
- What was the amount of the cash receipt from the sale of plant assets?
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