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The following
events occurred last year at Dorder Corporation:
Purchase of plant and
equipment
$26,000
Sale of long-term
investment
$11,000
Dividends received on
long-term investments
$7,000
Paid off bonds payable
$14,500
Depreciation expense
$13,000
Based on the above information, the cash provided (used)
by investing activities for the year on the statement of cash flows would net
to:
$(15,000)
$(13,000)
$(35,500)
$(14,500)
2.
Last year Burch Corporation’s cash account decreased by
$26,000. Net cash provided by investing activities was $8,100. Net cash
used in financing activities was $24,000. On the statement of cash flows, the
net cash flow provided by (used in) operating activities was:
$(10,100)
$15,900
$(26,000)
$(41,900)
3.
McCorey
Corporation recorded the following events last year:
Repurchase by the
company of its own common stock
$27,000
Sale of long-term
investment
$46,000
Interest paid to
lenders
$8,500
Dividends paid to the
company’s shareholders
$56,000
Collection by McCorey
of a loan made to another company
$32,000
Payment of taxes to
governmental bodies
$18,500
On the statement of cash flows, some of these events are
classified as operating activities, some are classified as investing
activities, and some are classified as financing activities.
Based solely on the information above, the net cash
provided by (used in) investing activities on the statement of cash flows
would be:
$(13,500)
$78,000
$22,000
$(15,500)
4.
Financial
statements of Rukavina Corporation follow:
Rukavina
Corporation
Comparative Balance Sheet
Ending
Balance
Beginning
Balance
Assets:
Cash and cash
equivalents
$45
$42
Accounts receivable
108
93
Inventory
67
52
Property, plant and
equipment
843
690
Less: accumulated
depreciation
372
320
Total assets
$691
$557
Liabilities and
stockholders’ equity:
Accounts payable
$85
$94
Bonds payable
200
320
Common stock
119
93
Retained earnings
287
50
Total liabilities and
stockholders’ equity
$691
$557
Income Statement
Sales
$810
Cost of goods sold
284
Gross margin
526
Selling and
administrative expenses
105
Net operating income
421
Income taxes
149
Net income
$272
Cash dividends were $35. The company did not dispose of
any property, plant, and equipment. It did not issue any bonds payable or
repurchase any of its own common stock. The following questions pertain to
the company’s statement of cash flows.
The net cash provided by (used in)
investing activities for the year was:
$(120)
$(153)
$26
$(35)
5.
Alcoser Corporation’s most recent balance sheet appears below:
Comparative
Balance Sheet
Ending
Balance
Beginning
Balance
Assets:
Cash and cash equivalents
$34
$29
Accounts receivable
32
36
Inventory
53
66
Property, plant and equipment
554
480
Less accumulated depreciation
208
206
Total assets
$465
$405
Liabilities and stockholders
equity:
Accounts payable
$41
$50
Accrued liabilities
17
16
Income taxes payable
28
30
Bonds payable
217
200
Common stock
75
70
Retained earnings
87
39
Total liabilities and equity
$465
$405
Net income for the year was $60. Cash dividends were $12. The company did not
dispose of any property, plant, and equipment. It did not issue any bonds
payable or repurchase any of its own common stock. The following questions
pertain to the company’s statement of cash flows.
The net cash provided by (used in) investing activities for the year was:
$74
($74)
($72)
$72
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