Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could you please work out problems 20, 21 and 23 please? 20. In 2018, a company re-purchased $15,000 of their own stock, purchased land for

Could you please work out problems 20, 21 and 23 please?

image text in transcribed

20. In 2018, a company re-purchased $15,000 of their own stock, purchased land for $100,000, and issued bonds payable of $120,000. How much is net cash provided from financing activities? A: $205,000 B: $105,000 C: $20,000 D: $85,000 21. If a company issued $100,000 in common stock, purchased equipment for $30,000, and collected a loan to another company of $10,000, how much net cash was provided or used by investing activities? A: $20,000 Used B: $20,000 Provided C: $120,000 Used D: $120,000 Provided 22. The purchase of new equipment with cash would appear on the statement of cash flows as a/an: A. Investing cash flow B. Depreciating cash flow C. Operating cash flow D. Financing cash flow 23. If a company originally purchased a truck for $60,000, sold the truck two years later for $42,000, and the accumulated depreciation on the date of sale was $20,000, how is the operating activities section of the statement of cash flows affected? A: $40,000 is added to the operating activities section B: $40,000 is subtracted from the operating activities section C: $2,000 is added to the operating activities section D: $2,000 is subtracted from the operating 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

Portfolio Of Business And Management Audits

Authors: Baumhardt And Partner

1st Edition

3908131006, 978-3908131007

More Books

Students also viewed these Accounting questions

Question

c. What groups were least represented? Why do you think this is so?

Answered: 1 week ago