suppliers, $5,00o.nt of dividends, $1,000; payment toMultiple Choice20 19Mary's Music Store reported net Income of $135,000. Beginning balances in Accounts Receivable and Accounts Payable were $29,000 and $26,000, respectively Ending balances in these accounts were $30,000 and $24,000, respectively Assuming that all relevantInformation has been presented, Mary's net cash flows from operating activities would be:Multiple ChoiceeBook$132,000.$134,000.$136.000$138,000.

As the questions asked have more than 1 question, the first question is answered. If you want the…

Help Seve During the year, Next Tec Corp had the following cash flows recelpt from customers, $10,000, receipt from the bank for long-term borrowing, $6,000, payment to supplers, $5,000, payment of dividends, $1,000, payment to workers, $2.000, and payment for machinery. $8.000. What amount would be reported for net financing cash flows in the statement of cash flows? Multiple Choice $5.000. $2.000 $6.000. $8,000) O O O O

Help Seve During the year, Next Tec Corp had the following cash flows recelpt from customers, $10,000, receipt from the bank for long-term borrowing, $6,000, payment to supplers, $5,000, payment of dividends, $1,000, payment to workers, $2.000, and payment for machinery. $8.000. What amount would be reported for net financing cash flows in the statement of cash flows? Multiple Choice $5.000. $2.000 $6.000. $8,000) O O O O

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter6: Statement Of Cash Flows

Section: Chapter Questions

Problem 14E

See similar textbooks

Similar questions

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
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?
To demonstrate the difference between cash account activity and accrual basis profits (net income), note the amount each transaction affects cash and the amount each transaction affects net income. A. issued stock for cash $20,000 B. purchased supplies inventory on account $1,800 C. paid employee salaries; assume it was current days expenses $950 D. paid note payment to bank (principal only) $1,200 E. collected balance on accounts receivable $4,750
Provide journal entries to record each of the following transactions. For each, also identify: *the appropriate section of the statement of cash flows, and **whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). A. reacquired $30,000 treasury stock B. purchased inventory for $20,000 C. issued common stock of $40,000 at par D. purchased land for $25,000 E. collected $22,000 from customers for accounts receivable F. paid $33,000 principal payment toward note payable to bank
Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). A. Paid $22,000 cash on bonds payable. B. Collected $12,600 cash for a note receivable. C. Declared a dividend to shareholders for $16,000, to be paid in the future. D. Paid $26,500 to suppliers for purchases on account. E. Purchased treasury stock for $18,000 cash.
To demonstrate the difference between cash account activity and accrual basis profits (net income), note the amount each transaction affects cash and the amount each transaction affects net income. A. paid balance due for accounts payable $6,900 B. charged clients for legal services provided $5,200 C. purchased supplies on account $1,750 D. collected legal service fees from clients for current month $3,700 E. issued stock in exchange for a note payable $10,000
The financial statements for Romeo and Company follow. Assume that the additional investment 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, 172,000
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.