Question
The Natural Company's cash balance at December 31, 2019, was $150,000. The following information was reported on the company's statement of cash flows for 2020:
The Natural Company's cash balance at December 31, 2019, was $150,000. The following information was reported on the company's statement of cash flows for 2020:
Net Income | $ | 342,000 |
Depreciation and Amortization | 91,000 | |
Increase in Accounts Receivable | 62,000 | |
Increase in Inventory | 137,000 | |
Decrease in Accounts Payable | 43,000 | |
Dividends Paid to Shareholders | 35,000 | |
Proceeds from Sale of Common Stock | 400,000 | |
Repayment of Bonds Payable | 240,000 | |
Proceeds of Sale of Equipment with Book Value of $84,000 | 61,000 | |
Purchase of Land and Building | 416,000 |
The Natural Company's balance sheet would report the balance of Cash on December 31, 2020.
Question 9 options:
|
| ||
|
| ||
|
| ||
|
|
A decrease in accounts payable from $86,000 to $72,000 will be reported on the statement of cash flows as a:
Question 5 options:
|
| ||
|
| ||
|
| ||
|
|
The income statement reports a loss of $5,000 from the sale of equipment. As a result, the statement of cash flows would report a:
Question 4 options:
|
| ||
|
| ||
|
| ||
|
|
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