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Business
Accounting
2025 2024 Cash $7,600 $9,900 Accounts receivable (net) 82,000 88,100 Merchandise inventory 86,400 82,200 Prepaid expenses 9,000 12,000 Equipment 169,500 145,000 Accumulated depreciation-equipment (45,500) (36,500) Land 30,000 50,700 Total assets $339,000 $351,400 Accounts payable $43,800 $57,300 Accrued expenses 11,100 8,900 Notes payable-bank, short-term -0- 50,300 Bonds payable 19,700 -0- Common stock, $1 par 180,000 163,000 Retained earnings 84,400 71,900 Total liabilities and shareholders' equity $339,000 $351,400 Equipment was purchased for $17,000 in exchange for common stock, par $17,000, during the year; all other equipment purchased was for cash. Land was sold for $31,700. Cash dividends of $7,100 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign e.g. -12,000 or in parenthesis e.g. (12,000).) (a) Net cash provided by operating activities. -37900 (6) (b) Net cash provided by investing activities. 22700 (c) Net cash used by financing activities. 13000

2025 2024 Cash $7,600 $9,900 Accounts receivable (net) 82,000 88,100 Merchandise inventory 86,400 82,200 Prepaid expenses 9,000 12,000 Equipment 169,500 145,000 Accumulated depreciation-equipment (45,500) (36,500) Land 30,000 50,700 Total assets $339,000 $351,400 Accounts payable $43,800 $57,300 Accrued expenses 11,100 8,900 Notes payable-bank, short-term -0- 50,300 Bonds payable 19,700 -0- Common stock, $1 par 180,000 163,000 Retained earnings 84,400 71,900 Total liabilities and shareholders' equity $339,000 $351,400 Equipment was purchased for $17,000 in exchange for common stock, par $17,000, during the year; all other equipment purchased was for cash. Land was sold for $31,700. Cash dividends of $7,100 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign e.g. -12,000 or in parenthesis e.g. (12,000).) (a) Net cash provided by operating activities. -37900 (6) (b) Net cash provided by investing activities. 22700 (c) Net cash used by financing activities. 13000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2025 2024 Cash $7,600 $9,900 Accounts receivable (net) 82,000 88,100 Merchandise inventory 86,400 82,200 Prepaid expenses 9,000 12,000 Equipment 169,500 145,000 Accumulated depreciation-equipment (45,500) (36,500) Land 30,000 50,700 Total assets $339,000 $351,400 Accounts payable $43,800 $57,300 Accrued expenses 11,100 8,900 Notes payable-bank, short-term -0- 50,300 Bonds payable 19,700 -0- Common stock, $1 par 180,000 163,000 Retained earnings 84,400 71,900 Total liabilities and shareholders' equity $339,000 $351,400 Equipment was purchased for $17,000 in exchange for common stock, par $17,000, during the year; all other equipment purchased was for cash. Land was sold for $31,700. Cash dividends of $7,100 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign e.g. -12,000 or in parenthesis e.g. (12,000).) (a) Net cash provided by operating activities. -37900 (6) (b) Net cash provided by investing activities. 22700 (c) Net cash used by financing activities. 13000
Transcribed Image Text:2025 2024 Cash $7,600 $9,900 Accounts receivable (net) 82,000 88,100 Merchandise inventory 86,400 82,200 Prepaid expenses 9,000 12,000 Equipment 169,500 145,000 Accumulated depreciation-equipment (45,500) (36,500) Land 30,000 50,700 Total assets $339,000 $351,400 Accounts payable $43,800 $57,300 Accrued expenses 11,100 8,900 Notes payable-bank, short-term -0- 50,300 Bonds payable 19,700 -0- Common stock, $1 par 180,000 163,000 Retained earnings 84,400 71,900 Total liabilities and shareholders' equity $339,000 $351,400 Equipment was purchased for $17,000 in exchange for common stock, par $17,000, during the year; all other equipment purchased was for cash. Land was sold for $31,700. Cash dividends of $7,100 were declared and paid during the year. Compute net cash provided (used) by: (Show amounts that decrease cash flow with either a-sign e.g. -12,000 or in parenthesis e.g. (12,000).) (a) Net cash provided by operating activities. -37900 (6) (b) Net cash provided by investing activities. 22700 (c) Net cash used by financing activities. 13000
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