Please make the statement of cash flows.Follow the given format of statement of cash flows. Payment for purchase of land2416,000Proceeds from sale of land58,000Proceeds from issuance of capital stock347,000Proceeds from issuance of bonds payable99,000Payments to settle short-term debt74,000Interest and dividends received49,500Cash received from customers1,502,000Dividends paid182,000Cash paid to suppliers and employees1,172,00066,000Interest paid115,500Income taxes paid Cash and cash equivalents, January 1, 201986,000Cash and cash equivalents, December 31,2019?Acme FoodStatement of Cash FlowsFor the Year Ended December 31, 2019ash flows from operating activities (direct method)Cash received from customersinterest and dividends receivedCash provided by operating activitiesCash paid to suppliers and employeesInterest paidIncome taxes paidCash disbursed for operating activitiesNet cash flows from operating activitiesCash flows from investing activitiesCash paid to acquire landProceeds from saie of landNet cash used by investing activitiesCash flows from financing activitiesProceeds from issuing bonds payablePayments to settie short-term debtsProceeds from issuance of stockDividends paidNet cash provided by financing activitiesNet increase (decrease) in cashCash and cash equivalents, beginning of yearCesh and cash equivalents, end of year

Statement of cash flows is one of the financial statement prepared by the business. It shows all…

Answered: Please make the statement of cash…

Business

Accounting

Please make the statement of cash flows. Follow the given format of statement of cash flows.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 14GI: Dunn Company recognized a 5,000 unrealized holding gain on investment in Starbuckss long-term bonds...

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During 20X1, Craig Company had the following transactions: a. Purchased 300,000 of 10-year bonds issued by Makenzie Inc. b. Acquired land valued at 105,000 in exchange for machinery. c. Sold equipment with original cost of 810,000 for 495,000; accumulated depreciation taken on the equipment to the point of sale was 270,000. d. Purchased new machinery for 180,000. e. Purchased common stock in Lemmons Company for 82,500. Required: 1. Prepare the net cash from investing activities section of the statement of cash flows. 2. CONCEPTUAL CONNECTION Usually, the net cash from investing activities is negative. How can Craig cover this negative cash flow? What other information would you like to have to make this decision?
Dunn Company recognized a 5,000 unrealized holding gain on investment in Starbuckss long-term bonds during 2019. The company classified its investment as an available-for-sale security. How would this information be reported on a statement of cash flows prepared using the indirect method?
2.Cash received on the sale of land $ 24,700 XYZ Bond Purchase $ 369,000 Amortization of discount on bonds payable $ 4,200 Declared cash dividend $ 92,000 Cash dividend paid $ 71,000 Issue of common shares in exchange for cash $ 153,000 Determine the net cash flow from financing activities: Select one: a. $ 59,000. b. $ 82,000. c. $ 139,000. d. $ 21,000.
Additional Information for 2021: Purchase investment in bonds for $115,000. Sell land costing $40,000 for only $31,000, resulting in a $9,000 loss on sale of land. Purchase $70,000 in equipment by issuing a $70,000 long-term note payable to the seller. No cash is exchanged in the transaction. Declare and pay a cash dividend of $30,000. Required: Prepare the statement of cash flows using the indirect method for December 31, 2021. Disclose any noncash transactions in an accompanying note. (List cash outflows and any decrease in cash as negative amounts.)
A Company provided the following data for the current year: Gain on sale of equipment – P60,000; Proceeds from sale of equipment – P100,000; Purchase of bonds with P2,000,000 face value – P1,800,000; Amortization of bond discount – P20,000; Dividends declared – P450,000; Dividends paid – P380,000; Proceeds from sale of treasury shares (at cost P650,000) – P750,000 What amount should be reported as net cash used in investing activities? [A] 1,700,000 [B] 1,760,000 [C] 1,880,000 [D] 1,940,000
An entity provided the following information for the current year: Income from continuing operations 4,000,000Income from discontinued operation 500,000Unrealized gain on financial asset – FVPL 800,000Unrealized loss on equity investment – FVOCI 1,000,000Unrealized gain on debt investment – FVOCI 1,200,000Unrealized gain on futures contract designated as a cash flow hedge 400,000Translation loss on foreign operation 200,000Net “remeasurement” gain on defined benefit plan during the year 600,000Loss on credit risk of a financial liability designated at FVPL 300,000Revaluation surplus during the year 2,500,000 Question 1: What net amount should be reported as other comprehensive income for the current year?a. 4,000,000 c. 3,200,000b. 3,500,000 d. 7,000,000Question 2: What amount should be reported as comprehensive income for the current year?a. 5,200,000 c. 8,500,000b. 7,700,000 d. 7,200,000
Problem BPeter Senen Corporation provided the following account balances as of September 30, 2020: CashP112,000 Accumulated depreciationP 36,000Accounts Receivable64,000Accounts payable 40,000Finished Goods48,000Income tax payable9,000Work in process 36,000 Share Capital500,000Raw materials 52,000 Retained Earnings207,000Property and Equipment480,000The following transactions occurred during October:1. Materials purchased on account, P150,0002. Materials issued to production: direct materials- P90,000, Indirect materials- P10,000.3. Payroll for the month of October 2020 consisted of the following (also paid during the month):Direct labor P62,000Administrative salariesP16,000Indirect Labor 20,000Sales salaries 30,000Payroll deductions were as follows:Withholding taxes P19,800Phil health contributions P2,000SSS contributions 7,100HDMF contributions 2,0004. Employer contributions for the month were accrued:FactorySellingAdministrativeSSS contributionsP5,700P2,000P1,100Philhealth…
Angel Corporation's accounting records and financial statements for 2021is as follows (P in millions): Cash paid to acquire machinery = P32; Retiredshare capital = P51; Proceeds from sale of land = P95; Gain from the saleof land = P50; Investment revenue received = P72; Cash paid to acquireoffice equipment = P85. In its statement of cash flows, the companyshould report net cash flows from investing activities of: A. P22 million outflowsB. P50 million outflowsC. P100 million inflowsD. P28 million inflows
Marigold Corp.'s transactions for the year ended December 31, 2021 included the following: • Acquired 50% of Ivanhoe Company's common stock for $305000 cash which was borrowed from a bank. • Issued 5300 shares of its preferred stock for land having a fair value of $483000. • Issued 570 of its 11% debenture bonds, due 2026, for $594000 cash. • Purchased a patent for $334000 cash. • Paid $188000 toward a bank loan. • Sold available-for-sale securities for $1201000. • Had a net increase in returnable customer deposits (long-term) of $128000. Marigold’s net cash provided by investing activities for 2021 was $409500. $562000. $867000. $896000.
Additional Information for 2021: Purchase investment in bonds for $100,000. Sell land costing $25,000 for only $17,500, resulting in a $7,500 loss on sale of land. Purchase $55,000 in equipment by issuing a $55,000 long-term note payable to the seller. No cash is exchanged in the transaction. Declare and pay a cash dividend of $22,500. Required: Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (List cash outflows and any decrease in cash as negative amounts.)
nEED IN 10 MINUTES 9. On January 1, 20x1, an entity purchased marketable equity securities for P2,500,000. The entity paid commission and taxes of P190,000. The equity securities do not qualify as financial asset held for trading. The entity made irrevocable election to present unrealized gain and loss in other comprehensive income. The securities have a market value of P2,600,000, and P2,750,000 on December 31, 20x1 and December 31, 20x2. On July 1, 2022, half of the securities are sold for P1,400,000. On July 1, 2022, the net increase/ decrease in retained earnings account is (sample answer: 10,500 increase or 10,500 decrease)
Assume a company’s balance sheet showed beginning and ending balances in the Long-Term Investments account of $1,100,000 and $900,000, respectively. The company sold a long-term investment that cost $300,000 and recorded a gain on this sale of $35,000. Based solely on the information provided, the company’s net cash provided by (used in) investing activities would be: Multiple Choice $200,000. $300,000. $235,000. $335,000.