XYZ Inc. had the following transactions during 2025: 1. Issued $250000 of par value common stock for cash. 2. Recorded and paid salaries and wages expense of $128500. 3. Acquired land by issuing common stock valued at $100000. 4. Declared and paid a cash dividend of $21600. 5. Sold a land (cost $6000) for cash of $6000. 6. Recorded cash sales of $820000. 7. Bought inventory for cash of $268000. 8. Acquired equipment for cash of $43100. 9. Converted bonds payable to common stock in the amount of $1000000. 10. Repaid a 6-year note payable in the amount of $427000. What is the net cash provided (used) by financing activities? O $228400 O $777000 O $(198600) O $(1198600)

XYZ Inc. had the following transactions during 2025: 1. Issued $250000 of par value common stock for cash. 2. Recorded and paid salaries and wages expense of $128500. 3. Acquired land by issuing common stock valued at $100000. 4. Declared and paid a cash dividend of $21600. 5. Sold a land (cost $6000) for cash of $6000. 6. Recorded cash sales of $820000. 7. Bought inventory for cash of $268000. 8. Acquired equipment for cash of $43100. 9. Converted bonds payable to common stock in the amount of $1000000. 10. Repaid a 6-year note payable in the amount of $427000. What is the net cash provided (used) by financing activities? O $228400 O $777000 O $(198600) O $(1198600)

Name: XYZ Inc. had the following transactions during 2025:1. Issued $250000
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Description: XYZ Inc. had the following transactions during 2025:1. Issued $250000 of par value common stock for cash.2. Recorded and paid salaries and wages expense of $128500.3. Acquired land by issuing common stock valued at $100000.4. Declared and paid a cas

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter14: Statement Of Cash Flows

Section: Chapter Questions

Problem 37E: During 20X1, Craig Company had the following transactions: a. Purchased 300,000 of 10-year 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?
Balance sheets for Brierwold Corporation follow: Additional transactions were as follows: a. Purchased equipment costing 50,000. b. Sold equipment costing 60,000, with a book value of 25,000, for 40,000. c. Retired preferred stock at a cost of 110,000. (The premium is debited to Retained Earnings.) d. Issued 10,000 shares of common stock (par value, 4) for 10 per share. e. Reported a loss of 15,000 for the year. f. Purchased land for 50,000. Required: Prepare a statement of cash flows using the worksheet approach. Use the indirect method to prepare the statement.
Balance sheets for Brierwold Corporation follow: Additional transactions were as follows: a. Purchased equipment costing 50,000. b. Sold equipment costing 60,000, with a book value of 25,000, for 40,000. c. Retired preferred stock at a cost of 110,000. (The premium is debited to Retained Earnings.) d. Issued 10,000 shares of common stock (par value, 4) for 10 per share. e. Reported a loss of 15,000 for the year. f. Purchased land for 50,000. Required: Prepare a statement of cash flows using the indirect method.
Jordan Company recognized a 5,000 unrealized holding gain on investment in Starbuckss common stock during 2019. The company classified as equity investments. How would this information be reported in a statement of cash flows prepared using the indirect method?
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