Denton Corp.s statement of financial position accounts as at 31 December 20X4 and 20X5 and information relating
Question:
Denton Corp.’s statement of financial position accounts as at 31 December 20X4 and 20X5 and information relating to 20X5 activities are presented below.
Information relating to 20X5 activities:
• Net earnings for 20X5 were $690,000.
• Cash dividends were declared and paid in 20X5.
• Equipment costing $400,000 and having a net book value of $150,000 was sold for $150,000.
• A long-term investment was sold for $135,000. There were no other transactions affecting long-term investments in the year.
• Short-term investments consist of treasury bills with an original term of three months.
Required:
Determine the following amounts for Denton for the year 20X5:
1. Net cash from operating activities (indirect method)
2. Net cash from investing activities
3. Net cash from financing activities
Step by Step Answer:
Intermediate Accounting Volume 1
ISBN: 9781260306743
7th Edition
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod Dick