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uysha [10]
2 years ago
14

In preparation for developing its statement of cash flows for the year ended December 31, 2021, Rapid Pac, Inc., collected the f

ollowing information:
($ in millions)
Fair value of shares issued in a stock dividend $108.0
Payment for the early extinguishment of long-term bonds (book value: $91.0 million) 96.0
Proceeds from the sale of treasury stock (cost: $27.0 million) 32.0
Gain on sale of land 3.6
Proceeds from sale of land 10.8
Purchase of Microsoft common stock 162.0
Declaration of cash dividends 61.0
Distribution of cash dividends declared in 2020 58.0

Required:
a. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2016?
b. In Rapid Pac's statement of cash flows. what were net cash inflows (or outflows) from financing activities for 2016?
Business
1 answer:
wariber [46]2 years ago
8 0

Answer:

a. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2016?

Proceeds from sale of land $10.8

Purchase of Microsoft common stock -$162.0

net outflow = -$151.2 million

b. In Rapid Pac's statement of cash flows. what were net cash inflows (or outflows) from financing activities for 2016?

Payment for the early extinguishment of long-term bonds (book value: $91.0 million) -$91.0

Proceeds from the sale of treasury stock (cost: $27.0 million) $32.0

Distribution of cash dividends declared in 2020 -$58.0

net outflow = -$117 million

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The world is facing greater and greater pollution, along with the depletion of natural resources. Every person in every country
Crank

Answer:

Implementing sustainable strategies is the solution

Explanation:

We are damaging our planet with the hazardous activities like emission harmful gases in atmosphere, depleting the ozone layer which is really alarming for the health of humans. We can prevent it by implement sustainable strategies in the organization like we can reduce the waste product, we can reduce the usage of natural resources and find their substitutes as well.

5 0
3 years ago
George's Equipment is planning on merging with Nelson Machinery. George's will pay Nelson's shareholders the current value of th
zalisa [80]

Answer:

31 per share

Explanation:

The computation of value per share is shown below:-

Share exchange ratio = MPS of Nelson ÷ MPS of George

= $38 ÷ $31

= 1.2258

MPS a + b = MVa + MVb ÷ Number of shares a + Number of shares b × SER

= (1600 × $38) + (4,600 × $31) ÷ 4,600 + (1,600 × 1.2258)

= $60,800 + $142,600 ÷ 4600 + 1,961

= $203,400 ÷ 6,561

= 31 per share

Therefore for computing the value per share we simply applied the above formula.

4 0
3 years ago
The following totals for the month of April were taken from the payroll register of Durbin Company. Salaries $12,000 Social secu
Katarina [22]

Answer:

debit to payroll tax for $798

Explanation:

From the given information:

The following totals for the month of April were taken from the payroll register of Durbin Company.

Salaries                                                                 $12,000    

Social security and Medicare taxes withheld           550

Employees federal income taxes withheld              2500

Medical insurance deductions                                    450

Federal unemployment taxes                                        32

State unemployment taxes                                           216

The objective is to determine the journal entry to record the payroll tax expense on April 30

Let;s recall that for taxes charged in employers; the following taxes will be considered:

Social security and Medicare taxes

Federal unemployment taxes  

State unemployment taxes

Thus;

The journal entry to record the payroll tax expense on April 30 can be prepared as:

Account                                                Debit                Credit

Payroll tax expense                             798

Social security and Medicare taxes                               550

Federal unemployment taxes                                           32

State unemployment taxes                                             216

Hence;

The journal entry to record the payroll tax expense on April 30 would include a debit to payroll tax for $798

4 0
3 years ago
The following transactions are July 2014 activities of Craig�s Bowling, Inc., which operates several bowling centers (for games
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Answer:

Explanation:

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a. Cash A/c Dr $15,000

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c. Cash A/c Dr $4,000

      To Account receivable  $4,000

(Being cash received for merchandise sold by the company)

d. Cash A/c Dr $2,500

       To Unearned revenue A/c $2,500

(Being deposit received for the upcoming fall season)

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