18) A company's income statement showed the following: net income, $117,000; depreciation expense, $31,500; and gain on sale of plant assets, $5,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,700; merchandise inventory increased $19,500; prepaid expenses increased $6,500; accounts payable increased $3,700. Calculate the net cash provided or used by operating activities.

19) A machine with a cost of $140,000 and accumulated depreciation of $95,000 is sold for $55,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:

20) A machine with a cost of $134,000, current year depreciation expense of $18,000 and accumulated depreciation of $87,000 is sold for $41,600 cash. The total amount that should be reported in the operating section of the statement of cash flow in, indirect method is:

21) A company reported that its bonds with a par value of $50,000 and a carrying value of $64,500 are retired for $69,000 cash, resulting in a loss of $4,500. The amount to be reported under cash flows from financing activities is:

22) Use the following information to calculate cash received from dividends:

Dividends revenue	$ 33,300
Dividends receivable, January 1	3,300
Dividends receivable, December 31	4,800

23) Analysis reveals that a company had a net increase in cash of $20,220 for the current year. Net cash provided by operating activities was $18,200; net cash used in investing activities was $10,100 and net cash provided by financing activities was $12,120. If the year-end cash balance is $24,300, the beginning cash balance was:

24) Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $32,000; net cash used in investing activities was $11,600 and net cash used in financing activities was $14,400. If the beginning cash balance is $5,800, what is the ending cash balance?

25)

Bagrov Corporation had a net decrease in cash of $14,000 for the current year. Net cash used in investing activities was $56,000 and net cash used in financing activities was $42,000. What amount of cash was provided (used) in operating activities?

26)

The accountant for Huckleberry Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$161,000
Cash dividends declared for the year	$50,000
Net income for the year	$97,000

What is the ending balance for retained earnings?

27)

In preparing a company's statement of cash flows for the most recent year, the following information is available:

Loss on the sale of equipment	$ 15,800
Purchase of equipment	163,000
Proceeds from the sale of equipment	144,000
Repayment of outstanding bonds	96,000
Purchase of treasury stock	71,000
Issuance of common stock	105,000
Purchase of land	133,000
Increase in accounts receivable during the year	52,000
Decrease in accounts payable during the year	84,000
Payment of cash dividends	44,000

Net cash flows from investing activities for the year were:

28)

Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$ 323,000
Cash dividends declared for the year	72,500
Proceeds from the sale of equipment	124,600
Gain on the sale of equipment	7,200
Cash dividends payable at the beginning of the year	31,900
Cash dividends payable at the end of the year	39,000
Net income for the year	159,500

The amount of cash paid for dividends was:

29)

Jeffreys Company reports depreciation expense of $41,000 for Year 2. Also, equipment costing $143,000 was sold for a $10,100 loss in Year 2. The following selected information is available for Jeffreys Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.

At December 31	Year 2	Year 1
Equipment	$ 615,000	$ 758,000
Accumulated Depreciation-Equipment	432,000	505,000

30)

Bagwell's net income for the year ended December 31, Year 2 was $198,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2.

At December 31	Year 2	Year 1
Common Stock, $5 par value	$ 513,000	$ 461,700
Paid-in capital in excess of par	961,000	864,700
Retained earnings	701,000	593,700

18) A company's income statement showed the following: net income, $117,000; depreciation expense, $31,500; and gain on sale of plant assets, $5,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,700; merchandise inventory increased $19,500; prepaid expenses increased $6,500; accounts payable increased $3,700. Calculate the net cash provided or used by operating activities.

19) A machine with a cost of $140,000 and accumulated depreciation of $95,000 is sold for $55,000 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:

20) A machine with a cost of $134,000, current year depreciation expense of $18,000 and accumulated depreciation of $87,000 is sold for $41,600 cash. The total amount that should be reported in the operating section of the statement of cash flow in, indirect method is:

21) A company reported that its bonds with a par value of $50,000 and a carrying value of $64,500 are retired for $69,000 cash, resulting in a loss of $4,500. The amount to be reported under cash flows from financing activities is:

22) Use the following information to calculate cash received from dividends:

Dividends revenue	$ 33,300
Dividends receivable, January 1	3,300
Dividends receivable, December 31	4,800

23) Analysis reveals that a company had a net increase in cash of $20,220 for the current year. Net cash provided by operating activities was $18,200; net cash used in investing activities was $10,100 and net cash provided by financing activities was $12,120. If the year-end cash balance is $24,300, the beginning cash balance was:

24) Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $32,000; net cash used in investing activities was $11,600 and net cash used in financing activities was $14,400. If the beginning cash balance is $5,800, what is the ending cash balance?

25)

Bagrov Corporation had a net decrease in cash of $14,000 for the current year. Net cash used in investing activities was $56,000 and net cash used in financing activities was $42,000. What amount of cash was provided (used) in operating activities?

26)

The accountant for Huckleberry Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$161,000
Cash dividends declared for the year	$50,000
Net income for the year	$97,000

What is the ending balance for retained earnings?

27)

In preparing a company's statement of cash flows for the most recent year, the following information is available:

Loss on the sale of equipment	$ 15,800
Purchase of equipment	163,000
Proceeds from the sale of equipment	144,000
Repayment of outstanding bonds	96,000
Purchase of treasury stock	71,000
Issuance of common stock	105,000
Purchase of land	133,000
Increase in accounts receivable during the year	52,000
Decrease in accounts payable during the year	84,000
Payment of cash dividends	44,000

Net cash flows from investing activities for the year were:

28)

Fernwood Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available:

Retained earnings balance at the beginning of the year	$ 323,000
Cash dividends declared for the year	72,500
Proceeds from the sale of equipment	124,600
Gain on the sale of equipment	7,200
Cash dividends payable at the beginning of the year	31,900
Cash dividends payable at the end of the year	39,000
Net income for the year	159,500

The amount of cash paid for dividends was:

29)

Jeffreys Company reports depreciation expense of $41,000 for Year 2. Also, equipment costing $143,000 was sold for a $10,100 loss in Year 2. The following selected information is available for Jeffreys Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.

At December 31	Year 2	Year 1
Equipment	$ 615,000	$ 758,000
Accumulated Depreciation-Equipment	432,000	505,000

30)

Bagwell's net income for the year ended December 31, Year 2 was $198,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2.

At December 31	Year 2	Year 1
Common Stock, $5 par value	$ 513,000	$ 461,700
Paid-in capital in excess of par	961,000	864,700
Retained earnings	701,000	593,700