Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Answer!!! Will pay tip of $3 for every correct answer Consider the following three cash flows: Cash paid for interest Cash paid for dividends

Please Answer!!! Will pay tip of $3 for every correct answer

Consider the following three cash flows: Cash paid for interest Cash paid for dividends Cash paid for purchase of a building Which ONE of the following sequences represents the CORRECT categorization of these three cash flows?
2. During 20X4, Nancy Company had total Cost of Goods Sold of $500,000 and total Sales of $600,000. The beginning and ending balances in the accounts payable account are respectively $60,000 and $100,000. The beginning and ending balances in the inventory account are $120,000 and$135,000, respectively. The beginning and ending balances in the accounts RECEIVABLE account are respectively $100,000 and $77,000.Compute the amount of cash paid for inventory during 20X4.
$525,000-500+40-15
$475,000-500-40+15
$555,000-500+15+40
$577,000-600-23
3. Sabo Company's financial statements show a net income of $243,000. The following items also appear on Sabos financial statements:
Depreciation expense: $55,000
Accounts receivable decrease: $60,000
Prepaid rent increase: $40,000
Accounts payable decrease: $45,000
What is Sabos net cash flow from operating activities?
$233,000
$353,000
$273,000
$243,000
$363,000
4. DeeAnn Company's financial statements show the following:
Sales: $300,000
Wage expense: $120,000
Accounts receivable decrease: $54,000
Prepaid rent increase: $33,000
Rent Expense: $75,000
Wages payable decrease: $39,000
Depreciation expense: $37,000
DeeAnn has no other revenues or expenses. What is DeeAnns net cash flow from operating activities?
$67,500
$109,500
$138,000
$87,000
$165,000
5. Yokum Company had the following transactions for 20X1:
Collections on accounts receivable $236,250
Payments on inventory ($168,750)
Payments for wages and salaries ($78,750)
Payments of dividends ($11,250)
Depreciation expense ($22,500)
Income taxes paid ($27,000)
Proceed received from sale of equipment ($225,000)
Utilities paid ($6,750)
Interest paid on note to local bank ($5,625)
Proceeds from issuance of common stock ($56,250)
Using the transactions above, compute the net cash flow from operating activities.
$523,125
($523,125)
$50,625
($50,625)
$225,000
($225,000)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Business Ethics Case Studies And Selected Readings

Authors: Marianne M. Jennings

9th Edition

0357453867, 9780357453865

Students also viewed these Accounting questions

Question

Did the researcher do a confirmability audit?

Answered: 1 week ago