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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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3 years ago
Which of the following personal property items has the HIGHEST specific limitation on coverage?
Charra [1.4K]

The personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

<h3 /><h3>The properties having HIGHEST specific limitation on coverage.</h3>

A limit is the highest amount your insurer will pay for a claim that your insurance policy covers.

Some of these specific limits apply to a building or personal property at a single location.

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brussels enterprises issues bonds at par dated january 1, 2021, that have a $2,700,000 par value, mature in four years, and pay
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The journal entry for the issuance of bonds for cash on January 1 is: Debit Cash $2,700,000, Credit Bonds payable $2,700,000.

<h3>Journal entry</h3>

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Credit Bonds payable $2,700,000

(To record  issuance of bonds for cash)

2. June 30

Debit bond  Interest expense $81,000

Credit Cash $81,000

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Debit bond  Interest expense $81,000

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Airida [17]

Answer:

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Explanation:

Recognized gain on sale of old house

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Paula's recognized gain = $443,000 - $250,000

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