FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
Publisher: MCG
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in Kingbird, Inc., land decreased $342900 because of a cash sale for $342900, the equipment account increased $114300 as a result of a cash purchase, and bonds payable increased $381000 from issuance for cash at face value. The net cash provided by investing activities is
$228600.
$266700.
$609600.
$342900.
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- Saved Help Creative Sound Systems sold investments, land, and its own common stock for $34 million, $14.6 million, and $39.2 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.6 million, $24.6 million, and $11.6 million, respectively. What amount should the company report as net cash flows from investing activities? (List cash outflows and any decrease in cash as negative amounts. Enter your answer in millions. (I.e., $10,000,000 should be entered as 10).) 31 CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from investing activities nces ols Net cash flows from investing activities 2$ 0.0 pse Hill dtv 14 FIC %23 24 & 2 3 5 6. 9 W E Y A S F G H K C V alt command command option V * 00 Barrow_forwardFinance is Fun, Inc recently reported net income of $4.2 million, depreciation of $750,000, and amortization of $100,000. What was its net cash flow?arrow_forwardUse the following company information to calculate net cash provided or used by investing activities. (a) Long-term investments were sold for $51,000 cash, yielding a gain of $22,150. (b) Paid $72,000 cash for new machinery. (c) Sold land costing $34,000 for $40,000 cash, yielding a $6,000 gain. (d) Equipment with a book value of $195,000 and an original cost of $320,000 was sold at a loss of $27,000. Statement of Cash Flows (partial) Cash flows from investing activitiesarrow_forward
- The land account decreased by $270,000 because of a cash sale for $270,000, the equipment account increased $90,000 as a result of a cash purchase, and Bonds Payable increased $300,000 from issuance for cash at face value. The total net cash provided by investing activities is a. $270,000. b. $480,000. c. $210,000. d. $180,000. If a loss of $9,000 is incurred in selling (for cash) office equipment having a book value of $90,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is a cash inflow of: a. $81,000. b. $90,000. c. $99,000. d. $9,000.arrow_forwardSarasota Corporation reported net income, $75000; cash provided by operating activies, $118000; cash used by investing activies, $85000; and cash provided by financing activies, $140000. The net increase (decrease) in cash isarrow_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_forward
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