42. Cash Flow from (or used by) Operating Activities for Wallis Corporation is?
ID: 2403231 • Letter: 4
Question
42. Cash Flow from (or used by) Operating Activities for Wallis Corporation is? a) (S147,800) b) S165,900 c) $174,500 d) $182,300 e) None of the above 43. Cash collected from customers is: a) $410,500 b) $489,500 c) $407.600 d) $450,000 e) None of the above 44. Cash paid for wages is: a) $134,000 b) $3,000 c) $135,000 d) $133.000 e) None of the above 45. Cash Flow from (or used by) Investing Activities for Wallis Corporation is? a) (S120,000) b) ($110.300) c) ($105,000) d) $95,000 e) None of the above 46. Cash Flow from (or used by) Financing Activities for Wallis Corporation is? a) ($10,000) b) ($35,000 c) ($15.400) d) ($40.400) e) None the above Use the following information to answer questions 47-49 The following information is available for Bounty Bay Corporation for the year ended December 31, 2015: Collection of principal on long-term loan to a supplier Purchase of equipment for cash Proceeds from the sale of long-term investment at carrying amount Issue of common shares for cash Depreciation expense Payment of the principal of the long-term bank loan Payment of cash dividends Profit Purchase of land by issuing mortgage payable $25,000 12,000 28,000 23,500 19,000 33,000 14.250 51,750 35,000 In addition, the following information is available from the comparative statements of financial position for Bounty Bay Corporation at the end of 2015 and 2014:Explanation / Answer
As question for answers from 47-49 provided completely, answers for those questions are provided as per your requirement
47. Answer is option B $62,650
Profit .......51750
+ depreciation expense..... 19000
- increase in accounts receivable.... (3250)
- increase in prepaid insurance...... (4500)
+ increase in accounts payable.... 2750
- decrease in Salaries payable..... (3100)
Net cash provided by operating activities..... 62,650
48. Answer is option A $41,000
Collection of principal on a long-term loan to a supplier... 25000
- purchase of equipment for cash...........(12000)
+ proceeds from the sale of long-term investment....... 28000
Net cash provided by investing activities.......41000
49. Answer is option A $(23,750)
Issuance of stock............. 23500
- payment of the principal of long-term bank loan.... (33000)
- payment of cash dividends....... (14250)
Net cash used by financing activities.... (23750)
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