Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A firm paid dividends of $10,000, paid interest of $10,000, reduced debt principal outstanding (paid off debt) in the amount of $100,000 and sold new

image text in transcribedimage text in transcribedimage text in transcribed

A firm paid dividends of $10,000, paid interest of $10,000, reduced debt principal outstanding (paid off debt) in the amount of $100,000 and sold new stock for $150,000. What was the firm's cash flow from financing activities? +$30,000 ($30,000 flowed into the firm) -$30,000 ($30,000 flowed out of the form) +$20,000 ($20,000 flowed into the firm) -$20,000 ($20,000 flowed out of the form) Enigma has the following financial information: Net Income $87,000 Taxable income (EBT) $100,000 Interest Expense $20,000 Depreciation Expense $15,000 Tax Expense $30,000 Decrease in Inventories $55,000 Increase in A/P and Accruals $15,000 Decrease in Gross Fixed Assets $100,000 No changes were made in interest payable or taxes payable. Based on the information in the above table, what is Enigma's cash flow from operations? $172,000 $180,000 $105,000 $65,000 Use the following information to calculate the company's accounting net income for the year. Credit Sales $700,000 Cash Sales $200,000 Operating Expenses on Credit $100,000 Cash Operating Expenses $550,000 Accounts Receivable (Beg. of Year) $50,000 Accounts Receivable (End of Year) $80,000 Accounts Payable (Beg. of Year) $50,000 Accounts Payable (End of Year) $100,000 Corporate Tax Rate 21% O $300,000 O $197,500 $225,000 O $279,000

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

Microfinance And Sustainable Development In Africa

Authors: Yahaya Alhassan, Uzoechi Nwagbara

1st Edition

1799874990,1799875024

More Books

Students also viewed these Finance questions