December 31 Cash Accounts receivable (net) Inventory Long-term investments Plant Assets, net of depreciation Accounts payable Wage Payable Dividends Payable Long-term notes payable Common stock Retained earnings Year ended December 31, 2012 Sales Revenue Cost of Goods Sold Operating Expense Depreciation Expense Gain on sale of investments Net income Other available information: 2012 a $19,000 b.$14,000 c. $19,000 d.-$14,000 $ 29,700 53,400 39,000 0 180,900 $303,000 2011 $ 10,200 20,300 42,000 15,000 125,000 $212,500 $ 16,000 $ 26,500 20,000 10,000 8,000 7,000 40,000 50,000 150,000 90,000 69,000 29,000 $303,000 $212,500 340,000 (200,000) (58,400) (10,600) 4,000 75,000 During 2012, Major, Inc didn't sell plant asset and didn't purchase additional investment. Dividends were declared and some were paid to common stockholders during the year. No shares were repurchased during the year. No shares were repurchased and no new debt was issued. All the transactions related to plant assets, investment, long-term del, dividends, and common stock only involve cash. 1. Consider the following: issued common stock for $25,000, sold office equipment for $1,200, paid cash dividends $6,000, purchased investments for $2,000, paid accounts payable of $4,000. What was the net cash inflow (outflow) from financing activities?
December 31 Cash Accounts receivable (net) Inventory Long-term investments Plant Assets, net of depreciation Accounts payable Wage Payable Dividends Payable Long-term notes payable Common stock Retained earnings Year ended December 31, 2012 Sales Revenue Cost of Goods Sold Operating Expense Depreciation Expense Gain on sale of investments Net income Other available information: 2012 a $19,000 b.$14,000 c. $19,000 d.-$14,000 $ 29,700 53,400 39,000 0 180,900 $303,000 2011 $ 10,200 20,300 42,000 15,000 125,000 $212,500 $ 16,000 $ 26,500 20,000 10,000 8,000 7,000 40,000 50,000 150,000 90,000 69,000 29,000 $303,000 $212,500 340,000 (200,000) (58,400) (10,600) 4,000 75,000 During 2012, Major, Inc didn't sell plant asset and didn't purchase additional investment. Dividends were declared and some were paid to common stockholders during the year. No shares were repurchased during the year. No shares were repurchased and no new debt was issued. All the transactions related to plant assets, investment, long-term del, dividends, and common stock only involve cash. 1. Consider the following: issued common stock for $25,000, sold office equipment for $1,200, paid cash dividends $6,000, purchased investments for $2,000, paid accounts payable of $4,000. What was the net cash inflow (outflow) from financing activities?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A-7
Transcribed Image Text:December 31
Cash
Accounts receivable (net)
Inventory
Long-term investments
Plant Assets, net of depreciation
Accounts payable
Wage Payable
Dividends Payable
Long-term notes payable
Common stock
Retained earnings
Year ended December 31, 2012
Sales Revenue
Cost of Goods Sold
Operating Expense
Depreciation Expense
Gain on sale of investments
Net income
Other available information:
.
●
2012
a.$19,000
b.$14,000
C-$19,000
d.-$14,000
$ 29,700
53,400
39,000
$ 10,200
20,300
42,000
15,000
125,000
$212,500
$ 16,000
$ 26,500
20,000
10,000
8,000
7,000
40,000
50,000
150,000
90,000
69,000
29,000
$303,000 $212,500
0
2011
180,900
$303,000
340,000
(200,000)
(58,400)
(10,600)
4,000
75,000
During 2012, Major, Inc didn't sell plant asset and didn't purchase additional investment.
Dividends were declared and some were paid to common stockholders during the year. No shares were repurchased during the year.
No shares were repurchased and no new debt was issued.
All the transactions related to plant assets, investment, long-term delt, dividends, and common stock only involve cash.
1. Consider the following: issued common stock for $25,000, sold office equipment for $1,200, paid cash dividends $6,000, purchased investments for
$2,000, paid accounts payable of $4,000. What was the net cash inflow (outflow) from financing activities?
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