The given statement is source or use of cash, and also explains the effect on firms cash balance. Source of cash: The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash. Uses of cash: All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Question

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Answer 1

Question

Chapter 26, Problem 3CQ

a.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

b.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

c.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

d.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

e.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

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Quinze Seize Corp. reported the following amounts in its statement of financial position at each year-end:a. What is the net cash provided by operating activities?b. What is the net cash used in investing activities?c. What is the net cash provided by financing activities?

The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the following: a. If sales for the current year were $375,000 and accounts receivable increased by $29,000 during the year, what was the amount of cash received from customers?$fill in the blank 1 b. If income tax expense for the current year was $39,000 and income tax payable decreased by $21,000 during the year, what was the amount of cash payments for income tax?$fill in the blank 2

The cash flows from (used for) operating activities are reported by the direct method on the statement of cash flows. Determine the following: a. If sales for the current year were $558,800 and accounts receivable decreased by $39,700 during the year, what was the amount of cash received from customers?$fill in the blank 1 b. If income tax expense for the current year was $38,900 and income tax payable decreased by $4,500 during the year, what was the amount of cash paid for income taxes?$fill in the blank 2 c. Briefly explain why the cash received from customers in part (a) is different from sales.Because the customers paid than the amount of sales for the period, cash received from customers sales made on account by $39,700 during the current year.

Answer 2

Question

Chapter 26, Problem 3CQ

a.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

b.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

c.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

d.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

e.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

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Answer 3

Question

Chapter 26, Problem 3CQ

a.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

b.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

c.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

d.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

e.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

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Answer 4

Question

Chapter 26, Problem 3CQ

a.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

b.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

c.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

d.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

e.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

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Answer 5

Chapter 26, Problem 3CQ

a.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

b.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

c.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

d.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

e.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 6

Chapter 26, Problem 3CQ

a.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 7

Chapter 26, Problem 3CQ

a.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 8

b.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 9

b.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 10

c.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 11

c.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 12

d.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 13

d.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 14

e.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 15

e.

Summary Introduction

To identify: The given statement is source or use of cash, and also explains the effect on firms cash balance.

Source of cash:

The company needs funds to fulfill the present as well as the future financial needs of the company. The company needs cash to satisfy these financial needs. All the options available to company for procurement of funds are considered as the sources of cash.

Uses of cash:

All the payments made by a company to outsiders are the use of cash. In business cycle one pay to another and this cycle continue till the business ends. The use of cash will reduce the cash balance of the company.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 26 - Prob. 1CQ Ch. 26 - Prob. 2CQ Ch. 26 - Prob. 3CQ Ch. 26 - Cost of Current Assets Grohl Manufacturing, Inc.,...Ch. 26 - Prob. 5CQ Ch. 26 - Shortage Costs What are the costs of shortages?...Ch. 26 - Prob. 7CQ Ch. 26 - Prob. 8CQ Ch. 26 - Prob. 9CQ Ch. 26 - Prob. 10CQ

Solution Summary: The author explains the source or use of cash, and the effect on firms cash balance.

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Chapter 26 Solutions