Question
17) York, Inc. reported net income of $60,000 for the year ended December 31, 2021. Included in net income were depreciation expense of $20,000 and
17) York, Inc. reported net income of $60,000 for the year ended December 31, 2021. Included in net income were depreciation expense of $20,000 and a gain on sale of equipment of $5,000. The equipment had an historical cost of $70,000 and accumulated depreciation of $50,000. Each of the following accounts increased during 2021:
Land $13,000
Prepaid rent $13,000
Available-for-sale securities $3,000
Bonds payable $10,000
What is the amount of cash provided by or used by investing activities for York, Inc. for the year ended December 31, 2021?
18) Orange Company reported net income of $500,000 for the year ended 12/31/21. Included in the computation of net income were: depreciation expense, $70,000; amortization of a patent, $30,000; income from an investment in common stock of ABC Inc., accounted for under the equity method, $50,000; and amortization of a bond discount, $10,000. Orange paid a $80,000 dividend during the year. The net cash provided by operating activities would be reported at?
19) Mets Co. provided the following information on selected transactions during 2021:
Purchase of land by issuing bonds $1,000,000
Proceeds from issuing bonds 2,000,000
Purchases of inventory 1,000,000
Purchases of treasury stock 500,000
Dividends paid to common stockholders 200,000
Proceeds from issuing common stock 2,000,000
Proceeds from sale of equipment 280,000
The net cash provided (used) by financing activities during 2021 is?
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