he accounting staff of Harris Company has assembled the following information fo
ID: 2379746 • Letter: H
Question
he accounting staff of Harris Company has assembled the following information for the year ended December 31, 2011:
Cash flows from operating activities:
Cash received from customers ________________
Interest and dividends received ________________
Cash provided by operating activities _______________
Cash paid to suppliers and employees ______________
Income taxes paid ________________
Interest paid ________________
Cash disbursed for operating activities ______________
Net cash flow from operating activites ______________
Cash flows from investing activities:
Proceeds from sales of plant assets _______________
Loans made to borrowers _______________
Collections on loans ________________
Cash paid to acquire plant assets ________________
Net cash used in investing activities: ________________
Cash flows from financing activites:
Dividends paid _________________
Proceeds from issuing bonds payable ________________
Net cash provided by financing activites _______________
Net decrease in cash and cash equivalents ____________
Cash and cash equivalents, beginning of year __________
Cash and cash equivalents, end of year _______________
Compute the amount of collections from customers
Cash reveived from customers _________________
Compute the amount of cash paid to suppliers and employees
Cash paid to suppliers and employees _______________
Compute the amount of proceeds from sales of plant assets
Proceeds from sales of plant assets _________________
Show your work
he accounting staff of Harris Company has assembled the following information for the year ended December 31, 2011:
Explanation / Answer
Cash flows from operating activities: Cash received from customers 810000 Interest and dividends received 100000 Cash provided by operating activities 2205000 Cash paid to suppliers and employees -1470000 Income taxes paid -95000 Interest paid -180000 Cash disbursed for operating activities -1065000 Net cash flow from operating activites 305000 Cash flows from investing activities: Proceeds from sales of plant assets 599900 Loans made to borrowers -500000 Collections on loans 260000 Cash paid to acquire plant assets -3100000 Net cash used in investing activities: -2740100 Cash flows from financing activites: Dividends paid -120000 Proceeds from issuing bonds payable 2500000 Net cash provided by financing activites 2380000 Net decrease in cash and cash equivalents -55100 Cash and cash equivalents, beginning of year 489000 Cash and cash equivalents, end of year 433900 Cash reveived from customers 810000 Cash paid to suppliers and employees 1470000 Proceeds from sales of plant assets 599900
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