Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Oering's Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent year, it reported the following activities: Net income Purchase of property, plant, and

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Oering's Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent year, it reported the following activities: Net income Purchase of property, plant, and equipment Borrowings under line of credit (bank) Proceeds from issuance of stock Cash received from customers Payments to reduce long-term debt Sale of marketable securities Proceeds from sale of property and equipment Dividends paid Interest paid Purchase of treasury stock (stock repurchase) $ 5,149 2,086 1,131 23 37,177 56 232 6,879 281 98 2,569 Required: Based on this information, present the investing and financing activities sections of the cash flow statement. (List cash outflows as negative amounts.) OERING'S FURNITURE CORPORATION Statement of Cash Flows (Partial) Cash flows from investing activities: 0 Cash flows from financing activities: Required: Based on this information, present the investing and financing activities sections of the cash flow statement. (List cash outflows as negative amounts.) OERING'S FURNITURE CORPORATION Statement of Cash Flows (Partial) Cash flows from investing activities: $ 0 Cash flows from financing activities: $ 0 Parra Company completed its income statement and comparative balance sheet for the current year and provided the following information: Income Statement Service revenue $ 66,200 Expenses: Salaries $40,100 Depreciation 7,200 Utilities 5,500 Loss on sale of equipment 1,500 54,300 Net income $ 11,900 Partial Balance Sheet Accounts receivable Salarios payable Other accrued liabilities Land Current Prior Year Year $ 13,900 $ 24,900 20,600 10.100 5,700 9,900 50,500 58,400 Required: Present the operating activities section of the statement of cash flows for Parra Company using the Indirect method. (List cash outflows as negative amounts.) PARRA COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: Partial Balance Sheet Accounts receivable Salaries payable Other accrued liabilities Land Current Prior Year Year $ 13,900 $ 24,900 20,600 10,100 5,700 9,900 50,500 58,400 Required: Present the operating activities section of the statement of cash flows for Parra Company using the indirect method. (List cash outflows as negative amounts.) PARRA COMPANY Statement of Cash Flows (Partial) Cash flows from operating activities: $ 0

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

Finance And Accounting For Business

Authors: Bob Ryan

1st Edition

9781861529930

More Books

Students also viewed these Accounting questions

Question

=+which it operates?

Answered: 1 week ago

Question

=+How should we organize a book to maximize learning and interest

Answered: 1 week ago