Question
The Raymond Corporation reported $11,000 of net income for the current year and also uses the visual inspection method for completing the statement of cash
The Raymond Corporation reported $11,000 of net income for the current year and also uses the visual inspection method for completing the statement of cash flows. The following additional information relates to Raymond for the year:
Subsidiary gain included in investment income under the equity method $ 370
Decrease in inventory 80
Loss on disposal of equipment 900
Proceeds from disposal of equipment 1,400
Depreciation expense 1,200
Acquisition of treasury stock 650
Increase in accounts payable 290
Acquisition of new securities (accounted for using the equity method) 500
Decrease in deferred income tax liability 210
Early retirement of bonds payable at book value 1,000
Increase in interest receivable 30
What is Raymond's net cash provided by operating activities?
A) $14,800
B) $12,860
C) $11,540
D) $12,210
-I know the answer here is B, $12,860. But I'm having trouble getting to this answer. Can I please see the work for this part of the problem?
What is Raymonds' net cash provided by investing activities?
A) $250
B) $900
C) $2,170
D) $3,370
- I know the answer is B, $900. But I'm having trouble getting to this answer. Can I please see the work for this part of the problem?
What is Raymonds' net cash used by financing activities?
A) $(1,240)
B) $(1,860)
C) $(1,650)
D) $(2,150)
- I know the answer is C, $1,650. But I'm having trouble getting to this answer. Can I please see the work for this part of the problem?
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