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kykrilka [37]
3 years ago
8

In preparation for developing its statement of cash flows for the year ended December 31, 2018, Millennium Solutions, Inc. colle

cted the following information: ($ in millions) Payment for the early extinguishments of long-term notes (book value: $71.0 million) $ 75.0 Sale of common shares 220.0 Retirement of common shares 133.0 Loss on sale of equipment 3.1 Proceeds from sale of equipment 12.4 Issuance of short-term note payable for cash 21.0 Acquisition of building for cash 12.5 Purchase of marketable securities (not a cash equivalent) 16.0 Purchase of marketable securities (considered a cash equivalent) 12.0 Cash payment for 3-year insurance policy 14.0 Collection of note receivable with interest (principal amount, $22) 24.0 Declaration of cash dividends 54.0 Distribution of cash dividends declared in 2017 51.0 Required: 1. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2018? 2. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2018?
Business
1 answer:
ValentinkaMS [17]3 years ago
3 0

Answer:

cash flow used on financing activities       (18.0)

cash flow generated from investing activies    7.9

Explanation:

<u>cash from financing</u>

Sale of common shares                            220.0

Issuance of short-term note                        21.0

extinguishment of long-term debt             (75.0)

Retirement of common shares                 (133.0)

Cash dividends distributed                      <u>  (51.0)  </u>

cash flow used on financing activities       (18.0)

<u>cash from investing</u>

sale of equipment proceeds                             12.4

note receivable  proceeds                               24.0

acquisition of building                                      (12.5)

marketable securities                                     <u>  (16.0)  </u>

cash flow generated from investing activies    7.9

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C. Increase, Decrease

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2 years ago
Frolic Corporation has budgeted sales and production over the next quarter as follows: July August September Sales in units 46,5
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Answer:

61,500 units

Explanation:

                                                      July           August            September

budgeted sales                         46,500         58,500             <u> </u><u>61,500</u>

budgeted production                47,050         58,800              63,150

beginning inventory                    5,300           5,850               6,150

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3 years ago
A company purchased a weaving machine for $190,000. The machine has a useful life of 8 years and a residual value of $10,000. It
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Answer:

The answer is option (B), accumulated depreciation at end of the second year=36,000+45,600=$81,600

Explanation:

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where;

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residual value=$10,000

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depreciable cost=$180,000

Determine the cost per unit as follows;

depreciable cost=cost per bolt×number of bolts produced

where;

depreciable cost=$180,000

cost per bolt=c

number of bolts produced=75,000 bolts

replacing;

180,000=c×75,000

75,000 c=180,000

c=180,000/75,000=2.4

The cost per bolt=$2.4

annual depreciation for the first year=(2.4×15,000)=$36,000

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accumulated depreciation at end of the second year=36,000+45,600=$81,600

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3 years ago
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Answer:

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Answer:

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