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.

As at 31 December 20X5 20X4 Assets Cash Short-term investments $ 230,000 300,000 510,000 680,000 200,000 1,700,000 (450,000) 90,000 $3,260,000 $ 100,000 Accounts receivable Inventory Long-term investments Plant assets Accumulated depreciation Patent 510,000 600,000 300,000 1,000,000 (450,000) 100,000 $2.160,000 Total assets Liabilities and shareholders' equity Accounts payable and accrued liabilities


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

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Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-0071339476

Volume 1, 6th Edition

Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I

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