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Need help for question S11-12 ONLY. s11-9. (Learning Objective 4: Computing investing cash flows) Motorsports of Madrid, Inc., LO 4 reported t he following financial
Need help for question S11-12 ONLY.
s11-9. (Learning Objective 4: Computing investing cash flows) Motorsports of Madrid, Inc., LO 4 reported t he following financial statements for 20X6: Chapter 11 A1 Motorsports of Madrid, Inc. Income Statement Year Ended December 31, 20x6 2 (In thousands) 3 Service revenue 4 Cost of goods 5 Salary expense 6 Depreciation 7 Other expenses 8 Totale 50 180 inc A1 Motorsports of Madrid Comparative Balance Sheets December 31 20x6 and 20x5 2 (In thousands) 3 Assets 20X6 20X5 20X6 20X5 Current: 11 Accounts 43Salary payable 89 Accrued liabilities 5 Cash 48 $ 43 16 8 Prepaid expenses 0 9 Long-term investm 6 5 Long-term notes 54 79 Share capital Retained earnin Total 4838 12 Compute the following investing cash flows (enter all amounts in thousands): a. Acquisitions of PPE (all were for cash). Motorsports of Madrid sold no PPE. b. Proceeds from the sale of investments. Motorsports of Madrid purchased no investments. LO 5 SI1-10. (Learning Objective S: Computing financing cash flows) Use the Motorsports of Madrid data in Short Exercise 11-9 to compute the following (enter all amounts in thousands): a. New borrowing or payment of long-term notes payable. Motorsports of Madrid had only one long-term note payable transaction during the year. b. Issuance of share capital or retirement of shares. Motorsports of Madrid had only one share capital transaction during the year. c. Payment of cash dividends (same as dividends declared). LO 6 S11-11. (Learning Objective 6: Computing operating cash flows-direct method) Use the Motorsports of Madrid data in Short Exercise 11-9 to compute the following (enter all amounts in thousands): a. Collections from customers b. Payments for inventory LO 6 S11-12. (Learning Objective 6: Computing operating cash flows-direct method) Use the Motorsports of Madrid data in Short Exercise 11-9 to compute the following (enter all amounts in thousands): a. Payments to employees b. Payments of other expensesStep by Step Solution
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