The following summary transactions occurred during the year for Petunia. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $384,000 8,000 54,000 34,000 104,000 164,000 7,000 89,000 94,000 27,000 1,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted

The following summary transactions occurred during the year for Petunia. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $384,000 8,000 54,000 34,000 104,000 164,000 7,000 89,000 94,000 27,000 1,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter7: Receivables And Investments

Section: Chapter Questions

Problem 7.16E

See similar textbooks

Similar questions

Tifton Co. had the following cash transactions during the current year: Refer to the information in RE21-6. Prepare the financing activities section of Tifton Co.s statement of cash flows.
On December 31, Harrison Company reports the following assets: Which of these are included in, and excluded from, cash on the companys balance sheet?
Financial data for Otto Company follow: a. Compute the ratio of cash to monthly cash expenses. b. Interpret the results computed in (a).
The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable $460,000 10,e00 51,000 31,000 160,000 Sale of investments Issuance of notes payable- Cash Paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders 220,000 6,000 85,000 90,000 37,000 32,000 The balance of cash and cash equivalents at the beginning of 2021 was $23,000. Required: Prepare the statement of cash flows assuming that Bluebonnet prepares its financial statements according to International Financial Reporting Standards. Where IFRS allows flexibility, use the classification used most often in IFRS financial statements, (Amounts to be deducted should be indicated with a minus sign.)
The following summary transactions occurred during the year for Petunia. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $393,000 12,500 61,000 35,300 113,000 Cash flows from investing activities: 173,000 11,500 98,000 Required: Calculate net cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) Net cash flows from investing activities 103,000 31,500 1,000 PETUNIA COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024
The following summary transactions occurred during the year for Bluebonnet. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $380,000 6,000 50,000 Cash flows from financing activities: 30,000 100,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Net cash flows from financing activities 160,000 5,000 85,000 90,000 25,000 20,000 BLUEBONNET COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 $
The following summary transactions occurred during 2021 for Bluebonnet Bakers: Cash Received from:Collections from customers $380,000Interest on notes receivable 6,000Collection of notes receivable 50,000Sale of investments 30,000Issuance of notes payable 100,000Cash Paid for:Purchase of inventory 160,000Interest on notes payable 5,000Purchase of equipment 85,000Salaries to employees 90,000Payment of notes payable 25,000Dividends to shareholders…
The following summary transactions occurred during 2024 for Bluebonnet Bakers: Cash Received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash Paid for: Purchase of inventory $ 380,000 6,000 50,000 30,000 100, 000 160, 000 5,000 85,000 90,000 Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders The balance of cash and cash equivalents at the beginning of 2024 was $17,000. 25,000 20,000 Required: Prepare a statement of cash flows for 2024 for Bluebonnet Bakers. Use the direct method for reporting operating activities. Note: Amounts to be deducted should be indicated with a minus sign.
The following summary transactions occurred during the year for Bluebonnet. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $380,000 6,000 Cash flows from investing activities: -50,000 30,000 100,000 Net cash flows from investing activities 160,000 5,000 85,000 90,000 Required: Calculate net cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.) 25,000 20,000 BLUEBONNET COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 $ 0
The following summary transactions occurred during the year for Bluebonnet. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $380,000 6,000 50,000 30,000 100,000 Required: Calculate net cash flows from investing activities. (Amounts to be deducted should be indicated with a mi Cash flows from investing activities: 160,000 5,000 85,000 90,000 25,000 20,000 BLUEBONNET COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Net cash flows from investing activities $ 0
The following summary transactions occurred during the year for Marigold. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment salaries to employees Payment of notes payable Dividends to shareholders $382,000 7,000 52,000 31,000 102,000 Required: Calculate net cash flows from Investing activities. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from investing activities: 162,000 6,000 87,000 92,000 26,000 1,000 MARIGOLD COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Net cash flows from investing activities
A company settles a long-term note payable plus interest by paying $68,000 cash toward the principal amount and $5,440 cash for interest. The amount reported as a use of cash under cash flows from financing activities is: