Use the following information to calculate the net cash provided (inflow) or used by (outflow) from financing activities for the Lulu Corporation: (a) Net income, $10,000 (b) Sold common stock for $40,000 cash (c) Paid cash dividend of $13,000 (d) Repayment of bond payable, $26,000 (e) Purchased equipment for $12,000 cash (f) Issued long term mortgage notes payable for $250,000 cash. (Note: in the answer space, write only the number, with no $ signs or commas. That is, if your answer is $1,000, white it as : 1000 ).

Use the following information to calculate the net cash provided (inflow) or used by (outflow) from financing activities for the Lulu Corporation: (a) Net income, $10,000 (b) Sold common stock for $40,000 cash (c) Paid cash dividend of $13,000 (d) Repayment of bond payable, $26,000 (e) Purchased equipment for $12,000 cash (f) Issued long term mortgage notes payable for $250,000 cash. (Note: in the answer space, write only the number, with no $ signs or commas. That is, if your answer is $1,000, white it as : 1000 ).

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 27BE

See similar textbooks

Similar questions

Use the following information to calculate the net cash provided (inflow) or used by (outflow) from financing activities for the Lulu Corporation: (a) Net income, $12,000 (b) Sold common stock for $44,000 cash (c) Paid cash dividend of $15,000 (d) Repayment of bond payable, $26,000 (e) Purchased equipment for $12,000 cash
On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be a. deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends b. added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends c. deducted from net income in converting the net income reported on the income statement to cash flows from operating activities d. added to net income in converting the net income reported on the income statement to cash flows from operating activities
During the year, an entity had the following activities: Payment for the early payment of long-term bonds payable of P5,000,000 4,000,000 Payment of cash dividend declared in prior year 2,000,000 Preference share capital converted into ordinary share capital 1,000,000 Proceeds from sale of treasury shares (cost of treasury shares P1,000,000) 1,500,000 What amount should be reported as net cash used in financing activities? a. 4,500,000 b. 3,500,000 c. 2,500,000 d. 5,500,000
We are given the following information for Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $2,068,000 150,000 923,000 763,000 a. Accounts receivable b. Marketable securities c. Capital assets. d. Long-term debt $ Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Calculate the following balance sheet items: LA LA LA $ $ 1.00 times 2.60 times $ 40 % 4 times 517000
With the information given below from ABC Ltd,prepare cash flow from financing activities. 1. Redemption of short term deposit amounting to P400,000 2.Proceeds from issue of equity share capital is P2,000,000 3. Govt. bond interest received is P70,000 4. Purchase of Goodwill was P1,300,000 5. Sale of patent proceeds was P500,000 6. Proceeds of P1,200,000 from long term borrowing 7. Redemption of debentures paid P2,200,000 8. Underwriting commission of P40,000 9.Interest paid of P144,000 on long term borrowings
Presented here are cash flows (in S Millions) for Baton Rouge Corporation's most recent fiscal vear: Cash received from: Customers $3200 Interest on investments Sale of investments Sale of company's capital stock Issuance of debt securities 600 4400 440 2900 Cash paid for: Interest on debt S405 160 Income tax Principal payments on debt Purchase of land Payments to vendors Dividends on capital stock Operating expenses 1100 800 1200 330 710 Compute Cash flows from operating activities are 2) Presented here are cash flows (in S Millions) for Baton Rouge Corporation's most recent fiscal year: Cash received from: Customers S3400 Interest on investments 800 Sale of investments 3800 Sale of company's capital stock Issuance of debt securities 470 2200 Cash paid for: Interest on debt $385 Income tax Principal payments on debt Purchase of land Payments to vendors Dividends on capital stock Operating expenses 170 1200 1100 1400 360 770 Compute the Cash flows from investing activities are 3)…
The Q Ltd.provides the following information about its activities in the year 2021.Marketable securities purchased: $45,000Treasury stock purchased: $56,000Inventory purchased: $412,000Land sold: $95,000Machinery purchased: $278,000Common stock issued: $168,000Compute net cash provided by investing activities to be reported in the statement of cash flows of Q Ltd.
On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be a.deducted from net income in converting the net income reported on the income statement to cash flows from operating activities b.added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends c.deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends d.added to net income in converting the net income reported on the income statement to cash flows from operating activities
Assume a company’s balance sheet showed beginning and ending balances in the Long-Term Investments account of $1,100,000 and $900,000, respectively. The company sold a long-term investment that cost $300,000 and recorded a gain on this sale of $35,000. Based solely on the information provided, the company’s net cash provided by (used in) investing activities would be: Multiple Choice $200,000. $300,000. $235,000. $335,000.
A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for $21,376 representing a gain of $3,249. The value in the operating activities section regarding this event would be a.$18,127 b.$3,249 c.$24,625 d.$21,376
Following information is available in respect of A Ltd Particulars As on 31.3.2019 (Rupees. In Lacs) As on 31.3.2020 (Rupees. In Lacs) Investment in Financial Assets - 100 Equity Share Capital 150 160 Long term Loans taken 100 200 Dividend paid - 26 Dividend received - 10 Interest received - 15 a. Prepare the cash flow from financing activities from the above information and give reasons for each element whether these elements belong to financing activities or not b. Calculate the relationship between the debt and equity for the year 2019 and 2020, and comment
Use the information provided below to prepare the Cash Flow Statement of Harmony Limited for the year ended 31 December 2020. INFORMATIONThe information provided below was extracted from the accounting records of Harmony Limited on 31 December 2020: (Harmony Limited Information 2) Extract of Statement of Changes in Equity for the year ended 31 December 2020 Retained earnings R Balance on 01 January 2020 1 500 000 Profit after tax 480 000 Dividends paid and proposed in 2020 (180 000) Balance on 31 December 2020 1 800 000 Note:(a) Plant and equipment was purchased but there was no disposal. (b) The number of ordinary shares in issue was 930 000. (c) All purchases and sales of inventory were on credit. (d) Credit terms to debtors are 30 days. Debtors took approximately 28 days to settle their accounts during 2019.