B. Multiple Cholce with Computation 1. Ribbon Company provided the following information during the current year: Dividend received 500,000 Dividend paid 1,000,000 Cash received from customers 9,000,000 Proceeds from issuing share capital 1,500,000 Interest received 200,000 Proceeds from sale of long term investments 2,000,000 Cash paid to suppliers and employees 6,000,000 Interest paid on long term debt 400,000 Income taxes paid 300,000 Cash balance January 1 1,800,000 1a. What is the net cash provided by operating activities? a. 3,000,000 b. 3,300,000 c. 2,700,000 d. 2,000,000 1b. What is the net cash provided by investing activities? a. 2,500,000 b. 2,000,000 c. 2,200,000 d. -0- 133 1c.. What is the net cash provided by financing activities? a. 1,500,000 b. 1,000,000 c. 500,000 d. -0-
B. Multiple Cholce with Computation 1. Ribbon Company provided the following information during the current year: Dividend received 500,000 Dividend paid 1,000,000 Cash received from customers 9,000,000 Proceeds from issuing share capital 1,500,000 Interest received 200,000 Proceeds from sale of long term investments 2,000,000 Cash paid to suppliers and employees 6,000,000 Interest paid on long term debt 400,000 Income taxes paid 300,000 Cash balance January 1 1,800,000 1a. What is the net cash provided by operating activities? a. 3,000,000 b. 3,300,000 c. 2,700,000 d. 2,000,000 1b. What is the net cash provided by investing activities? a. 2,500,000 b. 2,000,000 c. 2,200,000 d. -0- 133 1c.. What is the net cash provided by financing activities? a. 1,500,000 b. 1,000,000 c. 500,000 d. -0-
Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter17: Financial Statement Analysis
Section17.4: Analyzing Financial Statements Using Financial Ratios
Problem 1WT
Related questions
Question
Choose the right answer
Transcribed Image Text:B. Multiple Choice with Computation
1. Ribbon Company provided the following information during the current year:
Dividend received
500,000
Dividend paid
1,000,000
Cash received from customers
9,000,000
Proceeds from issuing share capital
1,500,000
Interest received
200,000
Proceeds from sale of long term investments
2,000,000
Cash paid to suppliers and employees
6,000,000
Interest paid on long term debt
400,000
Income taxes paid
300,000
Cash balance January 1
1,800,000
1a. What is the net cash provided by operating activities?
a. 3,000,000
b. 3,300,000
c. 2,700,000
d. 2,000,000
1b. What is the net cash provided by investing activities?
a. 2,500,000
b. 2,000,000
c. 2,200,000
d. -0-
133
1c.. What is the net cash provided by financing activities?
a. 1,500,000
b. 1,000,000
c. 500,000
d. -0-
1d. What is the cash balance on December 31?
a. 6,300,000
b. 5,500,000
c. 4,800,000
d. 7,300,000
2. On December 31, 2020, Kale Company had the following balances in the accounts
maintained at First Bank.
Checking account #101
1,750,000
Checking account #201
( 100,000)
Time deposit
250,000
Money market placement
1,000,000
90-day treasury bill, due February 28, 2021
500,000
180-day treasury bill, due March 15, 2021
800,000
The entity classified investments with original maturities of three months or less as cash
equivalents.
On December 31, 2020, what amount should be reported as cash and cash
equivalents?
a. 3,400,000
b. 2,000,000
c. 2,400,000
d. 3,200,000
Transcribed Image Text:3. Oakwood Company provided the following data for the year
Cash balance, beginning of year
1,300,000
Cash flow from financing activities
1,000,000
Cash flow from operating activities
400,000
Cash flow from investing activities
(1,500,000)
Total shareholders' equity, beginning of year
2,000,000
What is the cash balance at the end of current year?
a. 1,200,000
b. 1,600,000
c. 1,400,000
d. 1,700,000
4. Alpha Company had the following activities during the current year:
Acquired 2,000 shares as investment for P2,600,000
15 / 58
Sold an investment for P3,500,000 when the carrying amount
Acquired a P5,000,000, 4-year certificate of deposit from a bank. During the year,
interest of P375,000 was paid to Alpha.
Collected dividends of P120,000 on share investments.
134
In the statement of cash flows, what amount should be reported as net cash used in
investing activities?
a. 3,725,000
b. 3,805,000
c. 3,980,000
d. 4,100,000
5. Kollar Company provided the following data for the current year:
Purchase of real estate for cash
5,500,000
Cash was borrowed from bank to purchase real
5,500,000
estate
Sale of investment for cash
5,000,000
Dividend paid
6,000,000
Issuance of ordinary shares for cash
2,500,000
Purchase of patent for cash
1,250,000
Payment of bank loan
1,500,000
Issuance of bonds payable for cash
3,000,000
5a. What is the net cash provided by financing activities?
a. 5,000,000
b. 3,500,000
c. 4,500,000
d. 5,500,000
5b. What is the net cash used in investing activities?
• 6,750,000
b. 3,750,000
c. 1,750,000
d. 500,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,