Answered step by step
Verified Expert Solution
Question
1 Approved Answer
TASK VI CASH FLOW STATEMENT (08 POINTS) In order to prepare the Statement of Cash Flows for Egnab Corporation for 2019, the accountant has compiled
TASK VI CASH FLOW STATEMENT (08 POINTS) In order to prepare the Statement of Cash Flows for Egnab Corporation for 2019, the accountant has compiled the following data regarding cash flows: Cash paid to acquire marketable securities. $ 380,000 Proceeds from sale ofmarketable securities. $17,500 Proceeds from issuance of capital stock. $250,000 Proceeds from issuance ofbonds payable... $55,000 Payments to settle short-term debt $32,500 Interest and dividends received .................... ............ $10,000 Dividends paid. ............ $130,000 Cash paid to suppliers and employees......... ...................... $1,030,000 Interest paid......... ............ $25,000 Income taxes paid. $70,000 Cash and cash equivalents, January 1, 2019.............. $43,000 Cash and cash equivalents, December 31, 2019. ................. $63,000 T o payable............................ ......... ............... INSTRUCTION: (SHOW YOUR CALCULATIONS AND ROUND TO 2 DECIMAL PLACES) Using the above information, classify the transactions and then answer the following questions in the space provided. (a) Egnab's Cash Flow from investing activities during 2019 is: (b) Egnab's Cash Flow from financing activities during 2019 is: (c) Egnab's Cash Flow from operating activities during 2019 is: (d) In the 2019 statement of Cash Flows for Egnab Corporation, the amount of cash received from customers is
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started