During the year, Next Tec Corp. had the following cash flows: receipt from customers, $16,000; receipt from the bank for long-term borrowing, $6,500%3; payment to suppliers, $6,000; payment of dividends; $1,600, payment to workers, $2,600; and payment for machinery, $10,500. What amount would be reported for net financing cash flows in the statement of cash flows? Multiple Choice $4,900 ($10,500) $6,500 $5,400

During the year, Next Tec Corp. had the following cash flows: receipt from customers, $16,000; receipt from the bank for long-term borrowing, $6,500%3; payment to suppliers, $6,000; payment of dividends; $1,600, payment to workers, $2,600; and payment for machinery, $10,500. What amount would be reported for net financing cash flows in the statement of cash flows? Multiple Choice $4,900 ($10,500) $6,500 $5,400

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12A: The Statement Of Cash Flows

Section: Chapter Questions

Problem 1P: Mahoney Company has the following financial statements for 2017 and 2018. Assume that the purchase...

See similar textbooks

Similar questions

During the year, Hepworth Company earned a net income of 61,725. Beginning and ending balances for the year for selected accounts are as follows: There were no financing or investing activities for the year. The above balances reflect all of the adjustments needed to adjust net income to operating cash flows. Required: 1. Prepare a schedule of operating cash flows using the indirect method. 2. Suppose that all the data are used in Requirement 1 except that the ending accounts payable and cash balances are not known. Assume also that you know that the operating cash flow for the year was 20,475. What is the ending balance of accounts payable? 3. CONCEPTUAL CONNECTION Hepworth has an opportunity to buy some equipment that will significantly increase productivity. The equipment costs 25,000. Assuming exactly the same data used for Requirement 1, can Hepworth buy the equipment using this years operating cash flows? If not, what would you suggest be done?
The following balance sheets and income statement were taken from the records of Rosie-Lee Company: Additional transactions were as follows: a. Sold equipment costing 21,600, with accumulated depreciation of 16,200, for 3,600. b. Issued bonds for 90,000 on December 31. c. Paid cash dividends of 36,000. d. Retired mortgage of 108,000 on December 31. Required: 1. Prepare a schedule of operating cash flows using (a) the indirect method and (b) the direct method. 2. Prepare a statement of cash flows using the indirect method.
Jarem Company showed 189,000 in prepaid rent on December 31, 20X1. On December 31, 20X2, the balance in the prepaid rent account was 226,800. Rent expense for 20X2 was 472,500. Required: 1. What amount of cash was paid for rent in 20X2? 2. CONCEPTUAL CONNECTION What adjustment in prepaid expenses is needed if the indirect method is used to prepare Jarems statement of cash flows?
Swasey Company earned net income of 1,800,000 in 20X2. Swasey provided the following information: Required: Compute the financing cash flows for the current year.
Provide journal entries to record each of the following transactions. For each, also identify *the appropriate section of the statement of cash flows, and s utility bill, $1,500
Mahoney Company has the following financial statements for 2017 and 2018. Assume that the purchase of equipment and the withdrawals were in the form of cash. Required Prepare a statement of cash flows for the year ended December 31, 2018. Check Figure Net cash flows from operating activities, 76,800
In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.) A. borrowed from the bank for business loan B. declared dividends, to be paid next year C. purchased treasury stock D. purchased a two-year insurance policy E. purchased plant assets