49. 2.00 points value: A company had the following transactions during the year.

Question

49. 2.00 points value: A company had the following transactions during the year. 1. Paid rent for the next two years, $8,000. 2. Purchased office supplies on account, $2,400 3. Purchased equipment, paying $14,000 cash and issuing a note payable for $5,000. 4. Borrowed from the bank, $6,100 5. Paid employee salaries, $7,400. 6. Paid $1,900 on account related to transaction 2 above. 7. Paid dividends to stockholders, $3,300. 8. Sold land for $10,700 that was purchased in a prior year for $7,200. 9. Collected cash from customers for services provided, $25,100. Calculate cash flows from operating activities, investing activities, and financing activities. (Cash out should be indicated with a minus sign.) Operating activites Investing activities Financing activities References Exercise Difficulty: 3 Hard Learning Objective: 04-07 Identify the major inflows and outflows of cash

Explanation / Answer

Operating Activities=$25000-$8000-$1900-$7400=$7800

Investing Activities=$10700-$14000=-$3300

Financing Activities==-$3300

Total Increase in Cash Inflow=7800-3300-3300=$1200

Related Questions

Navigate

• Browse (All)
• Browse 4
• Subjects

---

---

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