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jarptica [38.1K]
3 years ago
8

The following T-account is a summary of the cash account of Buffalo Industries. Cash (Summary Form) Balance, Jan. 1 21,600 Recei

pts from customers 982,800 Payments for goods 540,000 Dividends on stock investments 16,200 Payments for operating expenses 378,000 Proceeds from sale of equipment 97,200 Interest paid 27,000 Proceeds from issuance of Taxes paid 21,600 bonds payable 810,000 Dividends paid 108,000 Balance, Dec. 31 853,200 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows
Business
1 answer:
kupik [55]3 years ago
5 0

Answer:

$702,000

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 while an increase in liabilities is an inflow. Depreciation and other non-cash expenses deducted in the income statements are added back while the non-cash income such gain on asset are deducted from net income.

The amount of net cash provided (used) by financing activities should be reported in the statement of cash flows

= -$108,000 + $810,000

= $702,000

Other transactions are either operating or investing activities related.

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One bag of flour is sold for $1.00 to a bakery, which uses the flour to bake bread that is sold for $3.00 to consumers. A second
Phoenix [80]

Answer:

The correct answer is option b.

Explanation:

GDP is a measure of economic growth that shows the level of final goods and services produced in an economy in a year. It includes only final goods and services, intermediate goods are not included.  

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A registered representative ("rr") is an MFP of a municipal securities firm that is an underwriter for that municipal issuer. Th
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Answer:

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3 years ago
Handling materials $ 625,000 100,000 parts Inspecting product 900,000 1,500 batches Processing purchase orders 105,000 700 order
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Answer:

Part 1:

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Part 2:

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For Basic Model:

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Explanation:

Part 1:

Single plant overhead rate for the year:

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Part 2:

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