1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lesya [120]
3 years ago
8

n preparing its cash flow statement for the year ended December 31, 2022, Reyes Co. gathered the following data: Gain on sale of

land$12,500 Proceeds from sale of land 21,500 Purchase of Diamond, Inc., bonds (face value $215,000) 362,000 Amortization of bond discount 4,800 Cash dividends declared 98,000 Cash dividends paid 72,000 Proceeds from sales of Reyes Co. common stock 159,000 In its December 31, 2022, statement of cash flows, what amount should Green report as net cash from financing activities
Business
1 answer:
rodikova [14]3 years ago
7 0

Answer:

$87,000

Explanation:

The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.

The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.  

The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.

An increase in assets other than cash is an outflow of cash while an increase in liabilities is an inflow of cash.

Hence the net cash from financing activities

= -$72,000 + $159,000

=  $87,000

Other activities are either operating or investing activities.

You might be interested in
A type of kitchen knife with a sharp point and a narrow blade. It is used in food
Scrat [10]

Answer:

The answer is C. Boning knife

3 0
2 years ago
Do you think percentage gains
Anni [7]
I think more varied if you added additional mutual funds you would have a more diverse portfolio.
8 0
3 years ago
Read 2 more answers
Why do you think average income is an important criterion for development explain.
oee [108]

Average income is important because it tells us the income of an average person and gives an idea about the rising standard of living of people.

Average income is basically income earned per person in a given area in a specific year. More income means more money to fulfill your needs and wants. It is believed that the prosperity of a country depends on it. Money is considered an important factor in the development of a country. If the average income of a country increases there are chances of an increase in the development of that country. If the average income is lower there are fewer chances of development.

A country with high average income is considered rich and low average income country is considered poor. The World Bank also uses the average income to measure the development of any country. Therefore average income is considered a very important criteria for development.

You can learn more about average income at

brainly.com/question/15046941

#SPJ4

7 0
11 months ago
Richard Redden, the sole stockholder, contributed $71,000 in cash and land worth $132,000 in exchange for common stock to open a
Aloiza [94]

Answer: C. Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.

Explanation:

From the question, we are informed that Richard Redden, the sole stockholder, contributed $71,000 in cash and land worth $132,000 in exchange for common stock to open a new business, RR Consulting.

The journal entries will RR Consulting make to record this transaction will be:

Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.

7 0
3 years ago
Read 2 more answers
On January 1, 2021, Cori Ander Herbs granted restricted stock units (RSUs) representing 300,000 of its $1 par common shares to e
Anna [14]

Answer: $1,288,000

Explanation:

The amount should the company record as compensation expense for the year ended December 31, 2022 will be calculated thus

Number of RSUs = 300,000

Market price of shares = $14

Term of RSUs = 3 years

The compensation expense for year 1 which is 2021 will be:

= [(300,000 × $14) × 1 / 3] - $0

= $1,400,000

The compensation expense for year 2 which is 2022 will be:

= [(288,000 × $14) * 2 / 3] - $1,400,000

= $2,688,000 - $1,400,000

= $1,288,000

Therefore, the amount should the company record as compensation expense for the year ended December 31, 2022 will be $1,288,000

Note that the number of RSUs in 2022 was calculated as:

= 300,000 × (100% - 4%)

= 300,000 × 96%

= 288,000

8 0
3 years ago
Other questions:
  • If the government imposes a price floor on wheat at $5 and agrees to purchase any surpluses, how much will the government be for
    8·1 answer
  • Assume the MPC is 0.8. Assuming only the multiplier effect matters, a decrease in government purchases of $100 billion will shif
    11·1 answer
  • If a borrower provides collateral and fails to repay the loan,
    5·2 answers
  • Executive interview have essentially the same advantages and disadvantages as _____. mall intercept interviews clt interviews ma
    14·1 answer
  • When does a student need to file the FASFA?
    12·1 answer
  • The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the followi
    15·1 answer
  • The current yield on Google's common stock is 4.8%. The company just paid a $2.10 dividend. The rumor is that the dividend will
    12·1 answer
  • You work as a tutor for ECON 102. You sell your services at $20/hr., and you can only tutor one person at a time. Suppose you cu
    11·1 answer
  • You obtain the following estimates for an AR(2) model of some returns data
    5·1 answer
  • falcon company grants stock options to its upper and middle management employees. the options vest over a 4-year period, with 25
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!