Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2020 2019 Cash $29,800 $35,100 Accounts receivable (net) 54,900 44,700 Inventory 65,400 44,900 Prepaid expenses 14,800 25,200 Equipment 90,100 75,600 Accumulated depreciationequipment (18,020 ) (7,900

2020

2019

Cash

$29,800

$35,100

Accounts receivable (net)

54,900

44,700

Inventory

65,400

44,900

Prepaid expenses

14,800

25,200

Equipment

90,100

75,600

Accumulated depreciationequipment

(18,020

)

(7,900

)

Land

69,700

40,300

$306,680

$257,900

Accounts payable

$64,500

$52,400

Accrued expenses

15,200

18,100

Notes payablebank, long-term

0

23,000

Bonds payable

29,800

0

Common stock, $10 par

188,500

159,100

Retained earnings

8,680

5,300

$306,680

$257,900

Land was acquired for $29,400 in exchange for common stock, par $29,400, during the year; all equipment purchased was for cash. Equipment costing $13,000 was sold for $3,000; book value of the equipment was $5,900. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a - sign e.g. -12,000 or in parenthesis e.g. (12,000).)

(a) Net Cash providedused by operating activities.

$

(b) Net Cash providedused by investing activities.

$

(c) Net Cash providedused by financing activities.

$

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

More Books

Students also viewed these Accounting questions