Take me to the text The Marking Company's cash account decreased by $20,000. Net cash provided by operating activities was $19,000. Net cash used by investing activities was $23,000. Based on this information, calculate the net cash provided (used) by financing activities. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Increase or decrease in cash from financing activities = $

Take me to the text The Marking Company's cash account decreased by $20,000. Net cash provided by operating activities was $19,000. Net cash used by investing activities was $23,000. Based on this information, calculate the net cash provided (used) by financing activities. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Increase or decrease in cash from financing activities = $

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 1ANFS

See similar textbooks

Similar questions

Jarem Company showed 189,000 in prepaid rent on December 31, 20X1. On December 31, 20X2, the balance in the prepaid rent account was 226,800. Rent expense for 20X2 was 472,500. Required: 1. What amount of cash was paid for rent in 20X2? 2. CONCEPTUAL CONNECTION What adjustment in prepaid expenses is needed if the indirect method is used to prepare Jarems statement of cash flows?
Clark Bell started a personal financial planning business when he accepted $69,000 cash as advance payment for managing the financial assets of a large estate. Bell agreed to manage the estate for a one-year period beginning June 1, Year 1. Required Show the effects of the advance payment and revenue recognition on the Year 1 financial statements using the following horizontal statements model. In the Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. If the account is not affected, leave the cell blank. How much revenue would Bell recognize on the Year 2 income statement? What is the amount of cash flow from operating activities in Year 2?
While examining cash receipts information, the accounting department determined the following information: opening cash balance $162, cash on hand $1,215.80, and cash sales per register tape $1,067.71. Prepare a tabular analysis of the required adjustment based upon the cash count sheet. (Ifa transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 2 decimal places, e.g. 52.75.) Assets Liabilities Stockholders' Equity Cash Revenues Expenses
4. Prepare a statement of cash flows for the month ending July 31, 20Y2. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Use the minus sign to indicate cash outflows, cash payments and decreases in cash. You will not need to enter colons (:) on the financial statements. If an amount is zero, enter "0".
Han's Supplies's bank statement contained a $430 NSF check that one of its customers had written to pay for supplies purchased. Required: a. Show the effects of recognizing the NSF check on the financial statements by recording the appropriate amounts in a horizontal financial statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). b. Suppose the customer redeems the check by giving Han $290 cash in exchange for the bad check. The additional $20 paid a service fee charged by Han. Show the effects on the financial statements. c. Is the recognition of the NSF check on Han's books an asset source, use, or exchange transaction? d. Select which of the following is the correct answer. Complete this question by entering your answers in the tabs below. Req A and C Req B Reg D a. Show the effects of recognizing the NSF check on the financial statements by recording the…
Skysong, Inc. had credit sales of $1312000. The beginning accounts receivable balance was $135000 and the ending accounts receivable balance was $230000. Using the direct method of reporting cash flows from operating activities, what were the cash collections from customers during the period? $1312000. $1447000. $1217000. $1487000.
Prepare the summary entries necessary to determine the amount of cash received from customers for each of the four independent situations below. Situation Sales revenue Accounts receivableIncrease (Decrease) Cash receivedfrom customers 1 $ 220,000 $ 10,200 ? 2 220,000 (10,200 ) ? 3 110,000 (15,200 ) ? 4 110,000 15,200 ?
Required Record the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity, IA for in activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. every cell will require entry. Enter any decreases to account balances and cash outflows with a minus sign.)
my Take me to the text The Grading Company's cash account decreased by $12,000. Cash increase from operations was $21,000. Net cash decrease from investments was $23,000. Based on this information, calculate the cash increase (or decrease) from financing. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash. Increase or decrease in cash from financing activities = $ Check Note: The "check" button does not submit your attempt.To submit the attempt, go to the end of the quiz and click on the "submit all and finish" button. Quiz
State the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following transac Note: Only consider the cash component of each transaction. Use the minus sign to indicate amounts that are cash out flows, cash payments, decreases in cash, or any negative adjustments. If your answer is not reported in an amount box does not require an entry, leave it blank or enter "0". a. Received $120,000 from the sale of land costing $70,000. b. Purchased investments for $75,000. c. Declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginning of the year, and $6,000 were payable at the end of the year. d. Acquired equipment for $64,000 cash. e. Declared and issued 100 shares of $20 par common stock as a stock dividend, when the market price of the stock was $32 a share. f. Recognized depreciation for the year,…
Which of the following is the final step in preparing a spreadsheet (work sheet) for the statement of cash flows using the indirect method? Add the Debit and Credit Transactions columns and verify that the totals are equal. Analyze all noncash accounts and enter the net increase (decrease) in cash during the period. Add the Balance column totals, which should total to zero. After all noncash accounts have been analyzed, enter the net increase (decrease) in cash during the period.
Use the following data to solve this problem. Cash payments for interest $ (12 ) Retirement of common stock (32 ) Cash payments to merchandise suppliers (85 ) Purchase of land (8 ) Sale of equipment 30 Payments of dividends (37 ) Cash payment for salaries (35 ) Cash collection from customers 260 Purchase of equipment (40 ) a. Calculate net cash flows from operating activities? (Cash outflows should be indicated by a minus sign. Omit the "$" sign in your response.) Cash flows from operating activities $ b. Calculate net cash flows from investing activities? (Cash outflows should be indicated by a minus sign. Omit the "$" sign in your response.) Cash flows from investing activities $ c. Calculate net cash flows from financing activities? (Cash outflows should be indicated by a minus sign. Omit the "$" sign in your response.) Cash flows from financing activities $