FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet at the end of 2019 and 2018 for equity: 12/31/2019 12/31/2018 Common stock $210,000 $135,000 Retained earnings 495,300 412,800 Required: Assume that Nichols did not retire any stock during 2019, it reported $105,610 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows. Issuance of common stock $fill in the blank 1 Payment of dividends $fill in the blank 2arrow_forwardWhat is the firm's cash flow from financing?arrow_forwardCash received from long-term notes payable Purchase of investments Cash dividends paid Interest paid Financing Activities $ 56,000 14, 200 Compute cash flows from financing activities using the above company information. Note: Amounts to be deducted should be indicated by a minus sign. $ 45,600 22,800 0arrow_forward
- Smirnoff Corporation's net cash flows from operating activities on its cash flows statement for 2024 are? Thank you!arrow_forwardBalance Sheet for Bearcat Hathaway, 2022 2021 2022 Cash Accounts. Receivable $5,268,485 $10,268,485 Inventory $529,062 $696,685 Current Assets $8,371,777 $13,279,842 Less $2,574,230 $2,314,672 Gross Fixed Assets $16,251,665 $20,567,330 Accum.Depreciation Total Assets $7,460,897 $10,117,819 Accounts Payable Notes. Payable Current Liabilities Calculate the net working capital in 2022. Long Termi Debt Total Liabilities, None of these options are correct $10,572,740 $5,664,675 $8,854,338 $3,946,273 Total $17,162,545 $23,729,353 Liabilities and Equity Capital Surplus Retained. Earnings 2021 2022 $1,673,992 $2,438,271 Common Net Fixed Assets $8,790,768 $10,449,511 Stock ($0.50 $1,300,000 $1,600,000 par) $1,033,110 $1,987,233 $2,707,102 $4,425,504 $9,242,830 $11,468,302 $11,949,932 $15,893,806 $1,148,120 $1,800,969 $2,764,493 $4,434,578 $17,162,545 $23,729,353arrow_forwardBy how much did Declan's Designs' Dividends Payable increase during 2022? Please do not provide the net change in Dividends Payable, but instead provide the gross annual increase to Dividends Payable. Question 8 options: $73,000 $10,000 $63,000 $20,000arrow_forward
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