Compute the following cash flows for Swift Media Services Company for the past year: 1. The beginning

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Compute the following cash flows for Swift Media Services Company for the past year:
1. The beginning balance of Retained Earnings was $ 139,000, while the end of the year balance of Retained Earnings was $ 178,000. Net income for the year was $ 61,000. No dividends payable were on the balance sheet. How much was paid in cash dividends during the year?
2. The beginning and ending balances of the Common Stock account were $ 212,000 and $ 271,000, respectively. Where would the increase in Common Stock appear on the statement of cash flows?
3. The beginning and ending balances of the Treasury Stock account were $ 52,000 and $ 80,000, respectively. Where would the increase in Treasury Stock appear on the statement of cash flows?
4. The Property, Plant, & Equipment (net) increased by $ 11,000 during the year to have a balance of $ 151,000 at the end of the year. Depreciation for the year was $ 13,000. Acquisitions of new plant assets during the year totaled $ 43,000. Plant assets were sold at a loss of $ 3,000.
a. What were the cash proceeds from the sale of plant assets?
b. What amount would be reported on the investing section of the statement of cash flows? Would it be a source of cash or a use of cash?
c. What amount, if any, would be reported on the operating section of the statement of cash flows?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Managerial Accounting

ISBN: 978-0133428377

4th edition

Authors: Karen W. Braun, Wendy M. Tietz

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