QUESTION 26 The following data are available for Hannah Corporation Sale of land $115,000 Sale of equipment $85,000 Issuance of common stock 140,000 Purchase of equipment 170,000 Payment of cash dividends 120,000 Net cash provided by investing activities is a $200,000 b $30,000 c $25,000 d $170,000 Bayside Company reported a net loss of $8,000 for the year ended December 31, 2019 During the year, accounts receivable increased $15,000, merchandise inventory decreased $20,000, accounts payable decreased by $20,000, and depreciation expense of $12,000 was recorded During 2019, operating activities a provided net cash of $16,000 b used net cash of $11,000 c provided net cash of $8,000 d used net cash of $14,000 QUESTION 29 A company has total fixed costs of $240,000 and a contribution margin ratio of 25 The total sales necessary to break even are a $300,000 b $288,000 c $960,000 d $1,200,000 In calculating cash flows from operating activities using the indirect method, a gain on the sale of equipment is a not reported on a statement of cash flows b added to net income c deducted from net income d ignored because it does not affect cash QUESTION 28 Stromboli's Market had the following transactions during 2020 Issued $60,000 of par value common stock for cash Repaid a 6 year note payable in the amount of $15,000 Acquired land by issuing common stock of par value $50,000 Declared and paid a cash dividend of $21,000 Sold a long term investment (cost $3,000) for cash of $6,000 Acquired an investment in IBM stock for cash of $20,000 What is the net cash provided by financing activities a $21,000 b $4,000 c $24,000 d $30,000 QUESTION 19 Pusan Company issued common stock for proceeds of $486,000 during 2016 The company paid dividends of $120,000 and issued a long term note payable for $95,000 in exchange for equipment during the year The company also purchased treasury stock that had a cost of $5,000 The financing section of the statement of cash flows will report net cash inflows of a $361,000 b $266,000 c $291,000 d $456,000

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QUESTION 26

$200,000.

$30,000.

$25,000.

$170,000.

Bayside Company reported a net loss of $8,000 for the year ended December 31, 2019. During the year, accounts receivable increased $15,000, merchandise inventory decreased $20,000, accounts payable decreased by $20,000, and depreciation expense of $12,000 was recorded. During 2019, operating activities

provided net cash of $16,000.

used net cash of $11,000.

provided net cash of $8,000.

used net cash of $14,000.

QUESTION 29

A company has total fixed costs of $240,000 and a contribution margin ratio of 25%. The total sales necessary to break even are

$300,000.

$288,000.

$960,000.

$1,200,000.

In calculating cash flows from operating activities using the indirect method, a gain on the sale of equipment is

not reported on a statement of cash flows.

added to net income.

deducted from net income.

ignored because it does not affect cash.

QUESTION 28

$21,000

$4,000

$24,000

$30,000

QUESTION 19

Pusan Company issued common stock for proceeds of $486,000 during 2016. The company paid dividends of $120,000 and issued a long-term note payable for $95,000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $5,000. The financing section of the statement of cash flows will report net cash inflows of

$361,000.

$266,000.

$291,000.

$456,000.