Question: Please answer within the hour 1a. Analysis reveals that a company had a net increase in cash of $21,980 for the current year. On the
Please answer within the hour
1a. Analysis reveals that a company had a net increase in cash of $21,980 for the current year. On the statement of cash flows, net cash provided by operating activities was $19,800; net cash used in investing activities was $10,900 and net cash provided by financing activities was $13,080. If the year-end cash balance is $26,700, what was the beginning cash balance?
$4,720.
$42,960.
$43,960.
$17,260.
$48,680.
1b. The accountant for Crusoe Company is preparing the company's statement of cash flows and other financial statements for the fiscal year just ended. The following information is available:
| Retained earnings balance at the beginning of the year | $ | 133,000 |
| Cash dividends declared for the year | 53,000 | |
| Proceeds from the sale of equipment (a long-term asset) | 88,000 | |
| Gain on the sale of equipment (a long-term asset) | 8400 | |
| Interest payable at the beginning of the year | 25,000 | |
| Interest payable at the end of the year | 28,400 | |
| Net income for the year | 99,000 |
What is the ending balance for retained earnings?
$179,000.
$262,000.
$290,000.
$188,000.
$209,000.
1c. 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 (a long-term asset) | $ | 15,500 |
| Purchase of equipment (a long-term asset) | 160,000 | |
| Proceeds from the sale of equipment (a long-term asset) | 141,000 | |
| Repayment of outstanding bonds (a long-term liability) | 94,500 | |
| Purchase of treasury stock | 69,500 | |
| Issuance of common stock | 103,500 | |
| Purchase of land | 130,000 | |
| Increase in accounts receivable during the year | 50,500 | |
| Decrease in accounts payable during the year | 82,500 | |
| Payment of cash dividends | 42,500 |
Net cash flows from investing activities for the year were:
$282,000 of net cash used.
$149,000 of net cash used.
$133,500 of net cash used.
$149,000 of net cash provided.
$243,500 of net cash provided.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
