The following information is available form Magdalyn Co.\'s accounting records f
ID: 2434929 • Letter: T
Question
The following information is available form Magdalyn Co.'s accounting records for the year ended Dec. 31st 2007 (amounts in millions):cash dividends declared and paid...............$ 340
interest and taxes paid.............................. 96
collections from customers.......................1,350
payment of long - term debt.......................220
purchase of land and buildings.....................170
cash paid to suppliers and employees.............810
issuance of preferred stock.........................300
proceeds from the sale of equipment............. 40
A. Calculate net cash provided (used) by operating activities for Magdalyn Co. for the year ended Dec. 31st, 2007.
B. Calculate net cash provided (used) by investing activities.
C. Calculate net cash provided (used) by financing activities.
D. Calculate the net increase (decrease) in cash for the year.
Explanation / Answer
Statement of Cash flow Cash from Operating activities collections from customers............................1,350 cash paid to suppliers and employees.............810 interest and taxes paid...................................... 96 444 Cash provided (used) by investing activities. purchase of land and buildings........................170 proceeds from the sale of equipment................ 40 (130) Cash provided (used) by financing activities. issuance of preferred stock.............................300 cash dividends declared and paid................. 340 payment of long - term debt............................220 (260) net increase (decrease) in cash for the year. $54 ========
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.