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- 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 equ 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 ). Answer:For Exercise 16-2, note (1) the section of the statement the transaction would impact (0,l or F), (2) whether it is an inflow or outflow and (3) the cash amount that would be reported EXERCISE 16-2 Effect of transactions on cash flows State the effect (cash receipt or payment and amount) of each of the following tra actions, considered individually, on cash flows: trans a. Sold 5,000 shares of $30 par common stock for $45 per share. b. Sold equipment with a book value of $42,500 for $41,000. c. Purchased land for $120,000 cash. d. Purchased 5,000 shares of $30 par common stock as treasury stock at $50 per share e. Sold a new issue of $100,000 of bonds at 101. f. Paid dividends of $1.50 per share. There were 30,000 shares issued and 5,00 shares of treasury stock. g. Retired $500,000 of bonds, on which there was $2,500 of unamortized discount for $501,000. h. Purchased a building by paying $30,000 cash and issuing a $90,000 mortgage noe payable. Objective 1 /b. Cash receipt, $41,000With 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
- The following is an extract from the financial statements of Pompeii at 31 October: 20X7 20X6 $00 $000 Equity and liabilities: Share capital 120 80 Share premium 60 40 Retained earnings 85 68 265 188 Non-current liabilities: Bank loan 100 150 365 338 What Pompeii's net cash inflow or outflow from financing activities to include in the statement of cash flows for the year ended 31 October 20X7?Analyze the truth of these statements: Assume a corporation issued $2,000,000 of common stock in exchange for $2,000,000 of fixed assets. When preparing the Statement of Cash Flows using the indirect method this would be recorded in the Cash Flows from Investing Activities section as a cash outflow. Group of answer choices These statements are true. These statements are false. There is no way to determine the whether these statements are true or false. There is no such financial statement as the Statement of Cash Flows.In the Consolidated Statement of Cash Flows, Fairfield Communities, Inc. reported the followingitems in the Investing Activities Section:• Principal collections on receivables• Originations of receivables• Sale of receivables to qualifying special purpose entities.Do you agree on the classification of these items as Investing Activities? Explain you answer.If you disagree on the classification, under which activity do you think they should beclassified? Explain your answer.
- The following data are available for Mazaya Company. Sale of land R.0.200,000; Sale of equipment R.O. 100,000; Issuance of ordinary shares R.O. 140,000 for cash; Purchase of equipment R.O. 60,000 for cash; Declaration of cash dividends R.O.120,000; issue of notes payable for cash R.O. 120,000. Net cash provided by financing activities is: Select one: a. R.O.260,000. b. R.O.300,000. c R.O.380,000. d. R.O.240,000.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)…Refer to the information for Cornett Company above. What amount should Cornett report on its statement of cash flows as net cash flows provided by investing activities? a. $(5,200) b. $55,200 c. $144,800 d. None of these
- Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements for 2025 are provided below. Cash COMPARATIVE BALANCE SHEETS Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Accounts payable Income taxes payable Bonds payable Common stock Retained earnings 12/31/25 $608000 (320000) $408000 360000 384000 288000 $1440000 $176000 352000 360000 216000 336000 $1440000 12/31/24 $960000 (304000) $192000 216000 480000 656000 $1544000 $96000 392000 600000 216000 240000 $1544000Use 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 cashAn entity uses the direct method to prepare its statement of cashflows. The net cash provided by (used in) investing activities * The company had the following cash flows during 2002 Cash receipt from issuance of ordinary shares Cash receipts from customers Cash receipts from dividends on long-term investments Cash receipts from repayment of loan made to another entity Cash payments for wages and other operating expenses Cash payment for insurance Cash payments for dividends Cash payment for taxes 400,000 200,000 30,000 220,000 120,000 10,000 20,000 40,000 Cash payment to purchase land 80,000 Your answer
