Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Vancouver Canucks Company provided the following condensed information regarding cash flows: Liabilities & Shareholders' Equity 2022 2021 Bank overdraft $ 10,000 $ Accounts Payable 68,000

image text in transcribed
Vancouver Canucks Company provided the following condensed information regarding cash flows: Liabilities & Shareholders' Equity 2022 2021 Bank overdraft $ 10,000 $ Accounts Payable 68,000 45,000 Bank Loan Payable 90,000 103,000 Common Shares 50,000 60,000 Retained Earnings 173,000 146,000 Total Liabilities and Shareholders equity $ 391,000 $ 354,000 - 2022 net income was $32,000 - $11,000 in new bank loans were received in 2022 - Dividends were declared and paid in 2022 - $5,000 in new common shares were issued and some common shares were also repurchased and retired at the cost originally issued Required - fill in the blanks with your answers for the following: a) How much was paid in Dividends in 2022? b) How much of the bank loan payable was paid off in 2022? c) What was the amount of cash paid to repurchase common shares in 2022

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

Advances In Accounting Volume 23

Authors: Philip M J Reckers

1st Edition

0762314257, 9780762314256

More Books

Students also viewed these Accounting questions