The accountant for Huckleberry Company is preparing the company\'s statement of

Question

The accountant for Huckleberry Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available earnings balance at the beginning of the year dividends declared for the year $166,000 $52,000 $99.500 Net income for the year What is the ending balance for retained earnings? O $286,500 $14,500. O $265,50o. O $213,500. O $114,000 In preparing a company's statement of cash flows for the most recent year, the following information is available Loss on the sale of equipment Purchase of equipment Proceeds from the sale of equipment Purchase of treasury stock Issuance of common stock Purchase of land Increase in accounts receivable during the year Decrease in accounts payable during the year Payment of cash dividends $14,800 153,000 34,000 91,000 66,000 100,000 123,000 47,000 79,000 39,000 Net cash flows from investing activities for the year were $233,000 of net cash provided. O $142,000 of net cash provided. $268000 of net cash used $142,000 of net cash used. $127,200 of net cash used

Explanation / Answer

1) Ending retained earnings = Beginning retained earning+net income-dividend

= (166000+99500-52000)

Ending retained earnings = 213500

so answer is d) $213500

2) Cash flow from investing activities :

so answer is d) $142000 of net cash used

Cash flow from investing activities Purchase of equipment (153000) Proceeds from sale of equipment 134000 Purchase of land (123000) Net cash flow from investing activity (142000)

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.