Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In preparation for developing its statement of cash flows for the year ended December 31, 2018, Rapid Pac, Inc., collected the following information: (5 in

image text in transcribed
image text in transcribed
image text in transcribed
In preparation for developing its statement of cash flows for the year ended December 31, 2018, Rapid Pac, Inc., collected the following information: (5 in millions) $ 52.0 Fair value of shares issued in a stoek dividend Payment for the early extinguishment of long-term bonds (book value: $77.2 million) Proceeds from the sale of treasury stock (cost: $13. Omillion) Gain on sale of land Proceeds from sale of land Purchase of Microsoft common stock Declaration of cash dividends Distribution of cash dividends declared in 2017 82.e 18.e 2.2 6.6 134. 47. Required: 1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2018? 2. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2018? Required: 1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2018? 2. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2018? Complete this question by entering your answers in the tabs below. Required 1 Required 2 In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2018? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (l.e... 5,500,000 should be entered as 5.5).) (s in millions) Cash Flows From Investing Activities: Net cash inflows (outflows) from investing activities Required: 1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2018? 2. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2018? Complete this question by entering your answers in the tabs below. Required 1 Required 2 In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2018? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) i$ in millions) Cash Flows from Financing Activities: Net cash inflows (outflows) from 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

Cost Management A Strategic Emphasis

Authors: Edward Blocher, David E. Stout, Gary Cokins, Kung Chen

4th Edition

0073128155, 978-0073128153

More Books

Students also viewed these Accounting questions