Megna Company's net income last year was $143,000. Changes in the company's balance sheet accounts for the

Question:

Megna Company's net income last year was $143,000. Changes in the company's balance sheet accounts for the year appear below: increases(decreases) asset and contra-asset accounts:

cash 3000

accounts receivable 5000

inventory (8000)

prepaid expenses 9000

long-term investments 70000

property, plant and equipment 55000

accumulated depreciation 58000

liability and equity accounts:

accounts payable 14000

accrued liabilities 9000

income taxes payable (21000)

bonds payable (50000)

common stock 30000

retained earnings 94000

1. The company paid a cash dividend and it did not dispose of any long-term investments or property, plant, and equipment. The company did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the companys statement of cash flows. The net cash provided by (used in) operating activities last year was:

$139,000

$197,000

$201,000

$143,000

2. The net cash provided by (used in) investing activities last year was:

$95,000.00

$(95,000.00)

$125,000.00

$(125,000.00)

3. The net cash provided by (used in) financing activities last year was:

$(20,000.00)

$20,000.00

$(69,000.00)

$69,000.00

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...