111.
A machine with a cost of $130,000 and accumulated depreciation of $85,000 is sold for
$50,000 cash. The amount that should be reported as a source of cash under cash flows
from investing activities is:
112.
A machine with a cost of $130,000, accumulated depreciation of $85,000, and current year
depreciation expense of $17,000 is sold for $40,000 cash. The amount that should be
reported as a source of cash under cash flows from investing activities is:
113.
A machine with a cost of $130,000, current year depreciation expense of $17,000 and
accumulated depreciation of $85,000 is sold for $40,000 cash. The amount(s) that should
be reported in the operating section of the statement of cash flows is:
114.
A company reported that its bonds with a par value of $50,000 and a carrying value of
$57,000 are retired for $60,000 cash, resulting in a loss of $3,000. The amount to be
reported under cash flows from financing activities is:
115.
Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal
year. How should this information be reported on Addam’s statement of cash flows?
116.
Use the following information to calculate cash received as dividends from investments in
other companies’ stock:
Dividends revenue
$29,800
Dividends receivable, January 1
2,600
Dividends receivable, December 31
3,400
117.
Use the following information to calculate cash received as dividends from investments in
other companies’ stock:
Dividends revenue
$63,500
Dividends receivable, January 1
3,600
Dividends receivable, December 31
3,100
118.
Analysis reveals that a company had a net increase in cash of $20,000 for the current year.
Net cash provided by operating activities was $18,000; net cash used in investing activities
was $10,000 and net cash provided by financing activities was $12,000. If the year-end
cash balance is $24,000, the beginning cash balance was:
119.
Stormer Company reports the following amounts on its statement of cash flow: Net cash
provided by operating activities was $28,000; net cash used in investing activities was
$10,000 and net cash used in financing activities was $12,000. If the beginning cash
balance is $5,000, what is the ending cash balance?
120.
Bagrov Corporation had a net decrease in cash of $10,000 for the current year. Net cash
used in investing activities was $52,000 and net cash used in financing activities was
$38,000. What amount of cash was provided (used) in operating activities?
12–69
121.
The accountant for Crusoe Company is preparing the company’s statement of cash flows
for the fiscal year just ended. The following information is available:
Retained earnings balance at the
beginning of the year
$126,000
Cash dividends declared for the year
$46,000
Proceeds from the sale of equipment
$81,000
Gain on the sale of equipment
$7,000
Cash dividends payable at the
beginning of the year
$18,000
Cash dividends payable at the end of
the year
$20,000
Net income for the year
$92,000
What is the ending balance for retained earnings?
122.
The accountant for Crusoe Company is preparing the company’s statement of cash flows
for the fiscal year just ended. The following information is available:
Beginning balance
Net income for the year
Cash dividends declared
Ending balance
Retained earnings balance at the
beginning of the year
$126,000
Cash dividends declared for the year
$46,000
Proceeds from the sale of equipment
$81,000
Gain on the sale of equipment
$7,000
Cash dividends payable at the
beginning of the year
$18,000
Cash dividends payable at the end of
the year
$20,000
Net income for the year
$92,000
Cash dividends payable at the beginning
of the year
Cash dividends declared during the year
Cash dividends payable at the end of
the year
Cash dividends paid during the year
The amount of cash dividends paid during the year would be:
123.
The accountant for Huckleberry Company is preparing the company’s statement of cash
flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the
beginning of the year
$151,000
Cash dividends declared for the year
$46,000
Net income for the year
$92,000
Ending balance
What is the ending balance for retained earnings?
124.
The accountant for Mandarin Company is preparing the company’s statement of cash
flows for the fiscal year just ended. The following information is available:
Retained earnings balance at the
beginning of the year
$819,000
Net income for the year
$230,000
Cash dividends declared for the year
$42,000
Retained earnings balance at the end
of the year
$1,007,000
Cash dividends payable at the
beginning of the year
$10,000
Cash dividends payable at the end of
the year
$11,000
Cash dividend declared
Plus cash dividend payable, beginning
Less cash dividend payable, ending
Cash dividend paid
What is the amount of cash dividends paid that should be reported in the financing
section of the statement of cash flows?
125.
The accountant for Glasgow Company is preparing the company’s statement of cash flows
for the fiscal year just ended. The following information is available:
Retained earnings balance at the
beginning of the year
$1,719,000
Net income for the year
$433,000
Retained earnings balance at the end
of the year
$1,807,000
What is the amount of cash dividends paid that should be reported in the financing
section of the statement of cash flows?
Beginning retained earnings
Less ending retained earnings
Cash dividend paid
12–74
126.
In preparing a company’s statement of cash flows for the most recent year, the following
information is available:
Loss on the sale of equipment
$14,000
Purchase of equipment
$225,000
Proceeds from the sale of equipment
$106,000
Repayment of outstanding bonds
$87,000
Purchase of treasury stock
$25,000
Issuance of common stock
$96,000
Purchase of land
$115,000
Increase in accounts receivable during
the year
$33,000
Decrease in accounts payable during
the year
$75,000
Payment of cash dividends
$35,000
Net cash flows from investing activities for the year were:
Purchase of equipment
Purchase of land
Proceeds from sale of equipment
Net cash used
12–75
127.
In preparing a company’s statement of cash flows for the year just ended, the following
information is available:
Loss on the sale of equipment
$14,000
Purchase of equipment
$225,000
Proceeds from the sale of equipment
$106,000
Repayment of outstanding bonds
$87,000
Purchase of treasury stock
$25,000
Issuance of common stock
$96,000
Purchase of land
$115,000
Increase in accounts receivable during
the year
$33,000
Decrease in accounts payable during
the year
$75,000
Payment of cash dividends
$35,000
Net cash flows from financing activities for the year were:
Repayment of outstanding bonds
Purchase of treasury stock
Issuance of common stock
128.
In preparing a company’s statement of cash flows for the most recent year, the following
information is available:
Proceeds from the sale of equipment
$96,000
Repayment of outstanding bonds
$178,000
Issuance of common stock
$104,000
Purchase of land
$135,000
Payment of cash dividends
$22,000
Net cash flows from investing activities for the year were:
Purchase of land
Proceeds from sale of equipment
Net cash used
12–78
129.
In preparing a company’s statement of cash flows for the most recent year, the following
information is available:
Proceeds from the sale of
equipment
$96,000
Repayment of outstanding bonds
$178,000
Issuance of common stock
$104,000
Purchase of land
$135,000
Payment of cash dividends
$22,000
Net cash flows from financing activities for the year were:
Repayment of outstanding bonds
Issuance of common stock
Payment of cash dividends
Net cash used
12–79
130.
In preparing Marjorie Company’s statement of cash flows for the most recent year, the
following information is available:
Purchase of equipment
$260,000
Proceeds from the sale of
equipment
$87,000
Purchase of land
$91,000
Net cash flows from investing activities for the year were:
131.
In preparing a company’s statement of cash flows for the most recent year, Ransom Corp.
reported the following information:
Repayment of outstanding bonds
$107,000
Purchase of treasury stock
$62,000
Issuance of common stock
$46,000
Payment of cash dividends
$15,000
Net cash flows from financing activities for the year were:
Repayment of outstanding bonds
Purchase of treasury stock
Issuance of common stock
Payment of cash dividends