Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 ) The following events occurred last year at Dorder Corporation: Purchase of plant and equipment $26,000 Sale of long-term investment $11,000 Dividends received on

1 )

The following events occurred last year at Dorder Corporation:

Purchase of plant and equipment $26,000
Sale of long-term investment $11,000
Dividends received on long-term investments $7,000
Paid off bonds payable $14,500
Depreciation expense $13,000

Based on the above information, the cash provided (used) by investing activities for the year on the statement of cash flows would net to:

$(15,000)
$(13,000)
$(14,500)
$(35,500)
2)

Last year Burch Corporation's cash account decreased by $33,000. Net cash provided by investing activities was $8,800. Net cash used in financing activities was $29,500. On the statement of cash flows, the net cash flow provided by (used in) operating activities was:

$(12,300)
$(33,000)
$20,700
$(53,700)
3)

McCorey Corporation recorded the following events last year:

Repurchase by the company of its own common stock $27,000
Sale of long-term investment $46,000
Interest paid to lenders $8,500
Dividends paid to the company's shareholders $56,000
Collection by McCorey of a loan made to another company $32,000
Payment of taxes to governmental bodies $18,500

On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities.

Based solely on the information above, the net cash provided by (used in) investing activities on the statement of cash flows would be:

$22,000
$(13,500)
$78,000
$(15,500)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Strategic Market Management

Authors: David A. Aaker

4th Edition

0471309567, 9780471309567

More Books

Students also viewed these Accounting questions

Question

Compare value orientations among cultures

Answered: 1 week ago

Question

Discuss the relationship between culture and the built environment

Answered: 1 week ago