FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Related questions
Question
Below are approximate amounts related to cash flow information reported by five companies in previous years.
-
Rectangle reports operating
cash flows of $3.42 billion, investing cash flows of $0.42 billion, and financing cash flows of −$3.84 billion. -
Circle reports operating cash flows of $1.22 billion, investing cash flows of −$0.12 billion, and financing cash flows of −$1.04 billion. The beginning cash amount is $0.52 billion.
-
Pentagon reports operating cash flows of $0.08 billion, investing cash flows of $0.45 billion, and a change in total cash of $0.05 billion.
-
Square reports operating cash flows of $0.42 billion, financing cash flows of $0.24 billion, and a change in total cash of $0.01 billion.
-
Hexagon reports investing cash flows of −$1.06 billion, financing cash flows of $0.85 billion, and a change in total cash of $0.01 billion.
(Net
Required:
- What is the amount of the change in total cash of Rectangle?
- What is the ending cash amount of Circle?
- What is the amount of cash flows from financing activities of Pentagon?
- What is the amount of cash flows from investing activities of Square?
- What is the amount of cash flows from operating activities of Hexagon?
Transcribed Image Text:1. Change in total cash
billion
2. Ending cash amount
billion
3. Amount of outflows
billion
4. Amount of outflows
billion
5. Amount of inflows
billion
Expert Solution
arrow_forward
Step 1Basic Information
The question is related to the Cash Flow Statement. Cash Flow Statement is summary of cash receipts and cash payments. In Cash flow statement there are three activities
1.Cash Flow from Operating Activities
2. Cash Flow from Financing Activities
3. Cash Flow from Investing Activities
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Entity L reported net income of $125,000 for the current year and uses the indirect method to report operating activities cash flow. Accounts Receivable increased by $14,000 during the year. Choose the appropriate category on the statement of cash flows to report the increase in Accounts Receivable. Cash Flows From Operating Activities-Add to Net Income Cash Flows From Operating Activities-Deduct from Net Income Cash Flows From Investing Activities Cash Flows From Financing Activities Non-casharrow_forwardBelow are approximate amounts related to cash flow information reported by five companies in previous years. Rectangle reports operating cash flows of $3.53 billion, investing cash flows of $0.53 billion, and financing cash flows of −$4.06 billion. Circle reports operating cash flows of $1.33 billion, investing cash flows of −$0.23 billion, and financing cash flows of −$1.26 billion. The beginning cash amount is $0.63 billion. Pentagon reports operating cash flows of $0.08 billion, investing cash flows of $0.56 billion, and a change in total cash of $0.05 billion. Square reports operating cash flows of $0.53 billion, financing cash flows of $0.35 billion, and a change in total cash of $0.01 billion. Hexagon reports investing cash flows of −$1.28 billion, financing cash flows of $0.96 billion, and a change in total cash of $0.01 billion. (Net cash outflows should be indicated with a minus sign. Enter your answers in billions rounded to 2 decimal places.) Required: What…arrow_forwardA company reported net income of $250,000. Beginning balances in Accounts Recelvable and Accounts Payable were $20,000 and $21,000 respectively. Ending balances in these accounts were $10,500 and $29,000, respectively. Assuming that all relevant information has been presented, what is the company's net cash flows from operating activities? Multiple Cholce $259,500. $232,500. $267,500. $250,000.arrow_forward
- The following are excerpts from Hamburg Company’s statement of cash flows and other financial records. From Statement of Cash Flows: Cash flows from operating activities $433,104 Cash flows from investing activities -13,381 Cash flows from financing activities -221,035 From other records: Capital expenditure costs 18,547 Cash dividend payments 12,864 Sales revenue 465,762 Total assets 446,698 Compute free cash flow.arrow_forwardUsing the Exhibit below, assume that the balance of Accounts Payable was $60,000 at the beginning of the current year. Furthermore, assume that the balance of Accounts Payable is $65,000 at the end of the current year. When preparing the Statement of Cash Flow using the indirect method for the current year, which of the following statements would describe the proper presentation of accounts payable on the Cash flow from operating activities section? EXHIBIT Increase (Decrease) Net Income (loss) $XXX Adjustments to reconcile net income to net cash flow from operating activities: Depreciation of fixed assets XXX Losses on disposal of assets XXX Gains on disposal of…arrow_forwardThe item listed below belongs on the Statement of Cash Flows. Using formulas and cell links, complete the Statement of Cash Flows. Items for the Statement of Cash Flowws 01/01/21 12/31/21 Increase (Decrease) Davidson Company Statment of Cash Flow For the Year Ended Dec, 31,2021 Cash 42,000 60,000 Accounts Recevable 254,000 314,200 Cash Flows from operation activities Inventory 78,500 117,100 Accounts Payable 164,200 204,800 Net Cash Provided used by operating Activities Short-term notes Payable 65,000 27,200 Cash Flows from investing Activities Net income for 2021 230,200 Purchase of Equipment 84,000 Net Cash Provided used by investing Activities Depreciation Expense 26,600 Payments of Cash Dividends 91,600 Cash Flows from Financing…arrow_forward
- On May 1, Year 3, Love Corporation declared a $59,700 cash dividend to be paid on May 31 to shareholders of record on May 15. Required Record the events occurring on May 1 and May 31 in the following horizontal statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), Investing activities (IA), or financing activities (FA). Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Date May 01 May 31 Assets Balance Sheet Liabilities + • Common Stock LOVE CORPORATION Horizontal Statements Model Retained Revenus Earnings Income Statement Expenses Net Income Flowsarrow_forwardOn May 1, Year 3, Love Corporation declared a $74,100 cash dividend to be paid on May 31 to shareholders of record on May 15. Required Record the events occurring on May 1 and May 31 in the following horizontal statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Date May 01 May 31 Assets Balance Sheet Liabilities Common Stock LOVE CORPORATION Horizontal Statements Model Retained Earnings Revenue Income Statement Expenses Net Income Statement of Cash Flowsarrow_forwardn its fiscal 2010 balance sheet, Big Lots, Inc., reported cash and cash equivalents at the start of the year of $283,733 thousand. By the end of the year, the cash and cash equivalents had decreased to $177,539 thousand. The company's statement of cash flows reported cash from operating activities of $315,257 thousand, cash from financing activities of ($306,899) thousand. What amount did the company report for cash from investing activities? Select one: a. $8,358 thousand cash inflow b. $106,194 thousand cash outflow c. $114,552 thousand cash outflow d. $114,552 thousand cash inflow e. None of the above.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSON
Intermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill Education
Financial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education