Question
Match the sections below from the balance sheet with their typical cash flow activity category. Use O for operating, I for investing and F for
- Match the sections below from the balance sheet with their typical cash flow activity category.
Use O for operating, I for investing and F for financing.
1. ____ Owners' Equity
2. ____ Current Assets
3. ____ Non-current Liabilities
4. ____ Current Liabilities
5. ____ Non-current Assets
- Calculate the cash flow from operating, investing and financing activities and the net change in cash for Rack Corporation based on below data:
Net Income $965,000
Sale of previously repurchased shares 45,000
Depreciation Expense 330,500
Increase in Accounts Receivables 85,700
Decrease in Investment in Bonds 400,000
Investment in property 860,000
Purchase of equipment 350,000
Increase in Accounts Payable 9,200
Decrease in inventory 260,000
Increase in Accrued Liabilities 75,000
Increase in Prepaid Expenses 32,000
Decrease in Long-Term Investments 140,000
Increase in Common Shares 65,000
Gain on sale of Land 43,000
Purchase of Land 120,000
Increase in Bonds Payable 300,000
Dividends paid 120,000
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