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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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Answer:

depreciation expense 2021 = $6,200

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Explanation:

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number of miles driven during 2020 = 33,500

depreciation expense 2022 = 33,500 x $0.20 = $6,700

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Given the following data for Harder Company, compute cost of goods manufactured: Direct materials used $120,000 Beginning work i
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Answer:

c. $480,000

Explanation:

Cost of goods manufactured        $

Direct materials used               120,000

Direct labor                               200,000

Manufacturing overhead         150,000

Beginning work in process      20,000

Ending work in process          <u> 10,000  </u>

Cost of goods manufactured <u> 480,000 </u>

So, Correct option is c. $480,000

4 0
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How can a firm increase the life of a product without involving product changes? a. reintroduction b. product extension c. new p
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When a firm is experiencing lesser profit it can come up with different strategy to improve its present product rather than developing new product because improving present product involves lesser cost therefore more profit. The answer is B. Product Extension and C. New product placement.

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Product extension can be use as it is targeting a new market. It can involve exporting the products. This strategy may be costly but when successful will level up your product’s quality as it passed exporting quality. It is changing the market NOT the product.

New product Placement is a strategy where in the products are advertised by placing it in media. The products are shown for example in movies, the character uses the products that way it can give awareness to the viewers how the products can be used and also the brand and name of the products are advertised without direct reference to the product. It doesn’t involve changing the product’s feature only the product placement is changed to a new one.

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3 0
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The purpose of reporting Current Maturities of Long-Term debt is to: a. report any portion of a long-term borrowing that is to b
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Answer:

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