Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer the questions in the attachment, please show all work fr the last two questions. 1. Winslow Manor Construction provided the following information during

Please answer the questions in the attachment, please show all work fr the last two questions.

image text in transcribed 1. Winslow Manor Construction provided the following information during the year: Proceeds from sale of building $65,000 Cash paid to purchase inventories 22,000 Proceeds from issuing long-term debt 17,000 Dividends paid to stockholders 12,000 Purchase of land for cash 56,000 Cash collected from customers 180,000 How much is the net cash provided(/used) by investing activities during the year? $26,000 $14,000 $9,000 $14,000 Question 32 1. How are changes in long-term liabilities that result in cash flows reported on the statement of cash flows? As investing activities As operating activities As financing activities As non-cash activities Question 33 1. How is cash received from using a line of credit reported on the statement of cash flows? As an investing activity As an operating activity As a financing activity As a non-cash activity Question 34 1. Carriage House Cleaners purchased equipment and paid dividends during the year. Where do these amounts appear on the statement of cash flows, respectively? Operating activities section, financing activities section Financing activities section, operating activities section Investing activities section, operating activities section Investing activities section, financing activities section Question 35 1. Selected information from the 2014 and 2013 accounting records of Hinley Roofing is provided below: December 31, 2014 2013 Net cash provided (used) by operations $38,000 $39,000 Net cash provided (used) by investing activities (22,000) 14,000 Net cash provided (used) by financing activities (15,000) (26,000) Cash balance at end of year ? 15,000 At the end of 2014, how much is Riddle's cash balance? $16,000 $40,000 $28,000 $43,000 Question 36 1. Which of the following activities is not reported as a financing activity on the statement of cash flows? Borrowing from a bank Paying interest on a long-term note payable Repaying the principal on a loan Issuing common stock for cash Question 37 1. Rodgers Chemicals sold a piece of equipment for cash and recognized a gain of $5,000. The original cost was $34,000 and the accumulated depreciation on the equipment just prior to the sale totaled $19,000. What amount will Rodgers Chemicals report in the investing activities section of its statement of cash flows? $20,000 $54,000 $10,000 $15,000 Question 38 1. Which of the following is reported as an operating activity? Cash payments for income taxes Cash payments for loan principal Cash payments for dividends Proceeds from the sale of a plant asset Question 39 1. Which of the following is reported as an investing activity? Depreciation on plant assets Cash payments to acquire new equipment Cash received for the sale of stock to investors Interest received on a money market bank account Question 40 1. Which of the following is considered to be a cash flow provided/(used) by financing activities? Dividends received from stock investments Cash received from customers for amounts due on account Proceeds from issuing common stock Interest paid on short-term notes payable CH 14

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_2

Step: 3

blur-text-image_3

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

Intermediate Accounting Volume 1

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

12th Canadian edition

119-49633-5, 1119496497, 1119496330, 978-1119496496

More Books

Students also viewed these Accounting questions

Question

How can budgeting assist a firm in its employment policies?

Answered: 1 week ago