Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The balance sheet data of Vaughn Company at the end of 2017 and 2016 follow. 2017 2016 Cash $29,100 $35,100 Accounts receivable (net) 55,500 45,300

The balance sheet data of Vaughn Company at the end of 2017 and 2016 follow. 2017 2016 Cash $29,100 $35,100 Accounts receivable (net) 55,500 45,300 Inventory 64,700 44,800 Prepaid expenses 15,100 25,300 Equipment 89,500 75,100 Accumulated depreciation-equipment (17,900 ) (7,600 ) Land 80,000 39,900 $316,000 $257,900 Accounts payable $65,800 4 $54,000 Accrued expenses 15,000 17,900 Notes payable-bank, long-term -0- 22,800 Bonds payable 30,100 -0- Common stock, $10 par 197,800 157,700 Retained earnings 7,300 5,500 $316,000 $257,900 Question 24 of 24 -/5 E Land was acquired for $40,100 in exchange for common stock, par $40,100, during the year; all equipment purchased was for cash. Equipment costing $10,000 was sold for $2,100; book value of the equipment was $6,000. Cash dividends of $9,900 were declared and paid during the year. Compute net cash provided (used) by: (a) Operating activities. (b) Investing activities. (c) Financing activities. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) (a) Net cash by operating activities $ (b) Net cash by investing activities $ (c) Net cash by financing activities $

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

More Books

Students also viewed these Accounting questions

Question

1. How does Kiwi Experience maintain a continual customer focus?

Answered: 1 week ago