FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Based on the following information, compute
Cash collections from customers $800
Purchase of used equipment 200
Depreciation expense 200
Sale of investments 450
Dividends received 100
Interest received 200
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- If a gain of $8,077 is realized in selling (for cash) office equipment having a book value of $59,041, the total amount reported in the investing activities section of the statement of cash flows is?arrow_forwardCash Received from: Sales to customers Interest on investment Collection of note receivable Sale of investments Issuance of notes payable Sale of long-term asset Issuance of equity Cash Paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Operating expenses Dividends to stockholders Purchase of supplies Income and property taxes Purchase of property Repurchase of stock $ 475,000 6,000 50,000 30,000 202,000 40,000 228,000 $ 33,000 5,000 18,000 140,000 25,000 20,000 3,000 11,000 400,000 8,000 The balance of cash at the beginning of 2024 was $220,000. दे Required: Prepare a statement of cash flows for the year for Shepa Incorporated, (Hint. For operating, investing, and financing activities, list the inflows and subtract the outflows to calculate net cash flows for each type of activity.) Note: Amounts to be deducted should be indicated with a minus sign.arrow_forwardBased on the following information, compute cash flows from financing activities under GAAP.Purchase of investments $ 250Dividends paid 1,200Interest paid 400Additional borrowing from bank 2,800arrow_forward
- Use the following information from Isthmus Company's financial statements to prepare the operating activities section of the statement of cash flows (indirect method) for the year 2018. What is the net cash flows from operating activities for 2018? Cash Account Receivable Inventory Accounts Payable Salaries Payable Additional information: Net income Depreciation expense $77,600 $45,200 $11,900 $36,000 Dec. 31, 2018 $295,000 45,300 92,200 23,000 1,700 45,200 33,300 Dec. 31, 2017 $259,000 48,700 91,000 26,300 1,500arrow_forwardREQUIREDUse the information provided below to prepare the Cash Flow Statement for the year ended 30 June 2020.INFORMATIONThe information given below was extracted from the books of Siyakha Limited for the financial year ended30 June 2020.1. STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE:2020R2019RASSETSProperty, plant and equipment (See note to the financial statements below.) 14 826 000 13 998 000Inventory 1 539 000 1 638 000Accounts receivable 6 243 000 4 572 000Bank 861 000 480 00023 469 000 20 688 000EQUITY AND LIABILITIESOrdinary Share Capital 9 300 000 8 220 000Retained Income 2 031 000 1 701 000Loan: OVS Bank 8 100 000 5 940 000Accounts payable 3 795 000 3 549 000Company tax payable 150 000 564 000Dividends payable 93 000 714 00023 469 000 20 688 0002. STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2020RDepreciation on Vehicles 1 233 000Depreciation on Equipment 1 083 000Operating profit 3 801 000Interest on Loan 1 404 000Profit before tax 2 397 000Profit after tax…arrow_forwardBased on the following information, compute cash flows from financing activities under GAAP. Purchase of investments $ 210 Dividends paid 1,160 Interest paid 360 Additional borrowing from bank 2,600arrow_forward
- Based on the following information, compute cash flows from investing activities under GAAP. Cash collections from customers $780 Purchase of used equipment Depreciation expense Sale of investments Dividends received Interest received 190 190 430 100 190 Cash Flows from Investing Activitiesarrow_forwardgive the cash flows below determine the IRR ? year cash flow 0 -$300, 1 $400 , 2 $250, 3 $100,4 $50 ,5 $200 ,6 -350arrow_forwardPrepare the Cash Flow for the year 2021arrow_forward
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