The following information pertains to cash received or paid from various transac
ID: 2480368 • Letter: T
Question
The following information pertains to cash received or paid from various transactions of the Reed Company:
Increase in bonds payable $100,000
Sale of investment 50,000
Issuance of common stock 60,000
Payment of cash dividends 30,000
Net cash provided by (used by) financing activities is
$90,000
$130,000
$160,000
$170,000
none of the above
The following information pertains to cash received or paid from various transactions of the Kyle Company.
Sale of land $100,000
Sale of equipment 50,000
Issuance of common stock 70,000
Purchase of equipment 30,000
Payment of cash dividends 60,000
Net cash provided by (used by) investing activities is
$120,000
$130,000
$150,000
$190,000
none of the above
a.$90,000
b.$130,000
c.$160,000
d.$170,000
e.none of the above
Explanation / Answer
Answer:
Reed Company: Answer is e none of the above.
Working
Cash used by financing Activity:
Increase in bond Payable
$ 100,000
Sale of Investment
$ 50,000
Issue of Stock
$ 60,000
Payament of Cash Dividend
$ (30,000)
Net Cash used in finacing Activities
$ 180,000
Kyle co:Answer is $120,000.
Working
Cash used by Investing Activity:
Sale of Lnd
$ 100,000
Sale of Equipment
$ 50,000
Purchase of Equipment
$ (30,000)
Net Cash used in Investing Activities
$ 120,000
Cash used by financing Activity:
Increase in bond Payable
$ 100,000
Sale of Investment
$ 50,000
Issue of Stock
$ 60,000
Payament of Cash Dividend
$ (30,000)
Net Cash used in finacing Activities
$ 180,000
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