NEED NOW PLEASE!!! EVERYTHING NEEDED HAS BEEN INCLUDED BELOW!!Create a Statement of Cash Flows using the information provided. SCAC Private SecurityNet income $360,000Operating activities - (1) Salaries and wages payable $ 70,000 (2) Cash for services performed $50,000 (3) Purchase of equipment $5,000Investing activities - (1) Purchased truck $40,000 (2) Sale of equipment $3,900Financing activities - (1) Issuance of Common Stock $10,000 (2) Payment of cash dividends $15,0001 non-cash transaction - depreciation expense: $3250

Here we should apply direct method Net income and non-cash transaction of Depreciation will not…

Answered: Net income $360,000 Operating…

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter22: End-of-fiscal-period Work For A Corporation

Section: Chapter Questions

Problem 3AP

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ccClassify each cash transaction between Operating (O), Investing (I), or Financing (F) activities using the following data: __Cash at the beginning of the year: $650,000 Cash Receipts from: __Bank (Interest on CD) $6,000 __Customers Sales $872,000 __Interest $33,000 __Dividends $3,600 Cash payments for: __Dividends $2,500 __Raw Materials $ 3,800 __Wages Expense $4,000 __Land $10,000 __Interest $4,000
Based on the following information, compute cash flows from investing activities under GAAP.Cash collections from customers $800Purchase of used equipment 200Depreciation expense 200Sale of investments 450Dividends received 100Interest received 200
Classification of Cash Flows Rolling Meadows Country Club Inc. is a privately owned corporation that operates a golf club. Rolling Meadows reported the following inflows and outflows of cash during 2019: Rolling Meadows had cash on hand at lllf2019 of $8,500. Required: 1. Prepare a properly formatted statement of cash flows using the indirect method. 2. CONCEPTUAL CONNECTION What can you conclude by examining the patterns in Rolling Meadows cash flows?
Direction: Classify each cash flow activity (Operating, Investing, Financing, or Non-cash). Then, prepare the Statement of Cash Flows for the year ended December 31, 2019. Talent Fees receivables from clients 500,000 Cash receipt from clients 600,000 . Depreciation expense 40,000 Proceeds of Japan bank loan 350,000 Cash purchase of building 800,000 Provision for doubtful accounts 28,000 Additional Investment of Lena 900,000 Dividends income received 23,000 Rent Income received 32,000 Payment of operating expenses 975,000 Principal long-term loan paid 600,000 Asset withdrawal of owner 125,000 Proceeds from sale of land 950,000
Required: Based on the following information, compute cash flows from investing activities under GAAP. Cash collections from customers $ 780 Purchase of used equipment 190 Depreciation expense 190 Sale of investments 430 Dividends received 100 Interest received 190
Shown below are totals of the three sections from the SCF for the Nanood Motel for the year just ended. Analyze this information and prepare a report indicating your opinion regarding its sources and uses of cash and their impact on the future of the company. Your conclusions and recommendations should be supported with proper explanations and assumptions. Statement of Cash Flows Net cash provided by operating activities $5,000 Net cash used by investing activities (50,000) Net cash provided by financing activities. $100,000 Increase in cash for the year 55,000 Cash at beginning of year…
Shown below are totals of the three sections from the SCF for the Nanged Motel for the year just ended. Analyze this information and prepare a report indicating your opinion regarding its sources and uses of cash and their impact on the future of the company. Your conclusions and recommendations should be supported with proper explanations and assumptions. Statement of Cash Flows Net cash provided by operating activities $505,000 Net cash provided by investing activities 150,000 Net cash used by financing activities (50,000) Increase in cash for the year 605,000 Cash at beginning of year…
Based on the following information, compute cash flows from financing activities under GAAP.Purchase of investments $ 250Dividends paid 1,200Interest paid 400Additional borrowing from bank 2,800
A machine with a cost of $144.000, accumulated depreciation of $92,000, and current year depreciation expense of $20,500 is sold for $45,600 cash. The amount that should be reported as a source of cash under cash flows from investing activities is: Multiple Choice $46,400. $6.400. $20,500 Prev 6 of 10 Next > 6:35 PM 3/28/2022
Using the following information please prepare a statement of cash flow Revenue forServices$75,000.00 Checks written to Vedors$25,000.00 Payment to employees$10,000.00 Cash, beginning of year$50,000.00 Purchase new equipment$35,000.00 Loan Repayment$17,500.00
Free Cash Flow Kat Co. reports the following financial data for the current year: Cash flow from operating activities Cash flow from investing activities Cash flow from financing activities Cash disbursed for capital expenditures Compute Kat's free cash flow. Free cash flow S 17175 x Check $21,500 (10,555) 4,250 (4,325)
Shown below are totals of the three sections from the SCF for the Sivad Motel for the year just ended. Analyze this information and prepare a report indicating your opinion regarding its sources and uses of cash and their impact on the future of the company. Your conclusions and recommendations should be supported with proper explanations and assumptions. Statement of Cash Flows Net cash provided by operating activities $10,000 Net cash used by investing activities (15,000) Net cash used by financing activities (5,000) Decrease in cash for the year (10,000) Cash at beginning of year 15,000 Cash at end of…

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