Denton Corporations statement of financial position accounts as at 31 December 20X4 and 20X5 and information relating
Question:
Denton Corporation’s statement of financial position accounts as at 31 December 20X4 and 20X5 and information relating to 20X5 activities are presented below.
Information relating to 20x5 activities:
• Net earnings for 20X5 were $ 690,000.
• Cash dividends were declared and paid in 20X5.
• Equipment costing $ 400,000 and having a net book value of $ 150,000 was sold for $ 150,000.
• A long- term investment was sold for $ 135,000. There were no other transactions affecting long- term investments in the year.
• Short- term investments consist of treasury bills with an original term of three months.
Required:
Determine the following amounts for Denton for the year 20X5:
1. Net cash from operating activities (indirect method)
2. Net cash from investing activities
3. Net cash from financing activities
Step by Step Answer:
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I