Question
Cash 29,000 10,000 Accounts receivable 23,000 14,000 Prepaid expenses 6,000 9,000 Merchandise inventory 25,000 15,000 Long-term investments 0 23,000 Equipment 57,000 30,000 Accumulated depreciationequipment (18,000)
Cash 29,000 10,000 Accounts receivable 23,000 14,000 Prepaid expenses 6,000 9,000 Merchandise inventory 25,000 15,000 Long-term investments 0 23,000 Equipment 57,000 30,000 Accumulated depreciationequipment (18,000) (14,000) Total assets $122,000 $87,000 Liabilities and Shareholders' Equity Accounts payable $ 21,000 $ 9,000 Mortgage payable 37,000 45,000 Common shares 40,000 23,000 Retained earnings 24,000 10,000 Total liabilities and shareholders' equity $122,000 $87,000 Additional information regarding fiscal 2016: 1. Profit for the year was $27,000. 2. Cash dividends of $13,000 were declared and paid during the year. 3. Long-term investments with a carrying amount of $23,000 were sold for $18,000 cash. Plz answer: The net cash provided by operating activities is: The net cash used (or generated by investing activities is): The net cash used (or generated) by financing activities is: The cash balance at December 31 is:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started