Swifty Corporation's transac
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• Purchased real estate for $1245000 cash which was borrowed from a bank.
• Sold available-for-sale securities for $1080000.
• Paid dividends of $1180000.
• Issued 550 shares of common stock for $550000.
• Purchased machinery and equipment for $250000 cash.
• Paid $908000 toward a bank loan.
• Reduced accounts receivable by $195000.
• Increased accounts payable $396000.
Swifty's net cash used in financing activities for 2021 was
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- 1. On June 30, 2019, Franz Inc. borrowed P1,800,000 for one year from the bank with an interest of 12%. As security for the loan, Franz pledged its accounts receivable amounting to P2,500,000 to the bank. The bank charged the company 8.46% of the accounts receivable pledged as service charge deducted from the amount borrowed. How much was the cash received by the company and the interest expense recognized for the year ended December 31, 2019? A. P 1,800,000; 211,500 B. P 1,548,000; 306,000 C. P 1,588,500; P 319,500 D. P 1,584,000; P 306,000 E. P 1,588,500; P 324,000 F. P 1,584,000; P 216,000 G. None of the choicesOn June 30, 2019, Franz Inc. borrowed P1,800,000 for one year from the bank with an interest of 12%. As security for the loan, Franz pledged its accounts receivable amounting to P2,500,000 to the bank. The bank charged the company 8.46% of the accounts receivable pledged as service charge deducted from the amount borrowed. How much was the cash received by the company and the interest expense recognized for the year ended December 31, 2019? a. P 1,800,000; 211,500 b. P 1,548,000; 306,000 c. P 1,588,500; P 319,500 d. P 1,584,000; P 306,000 e. P 1,588,500; P 324,000 f. P 1,584,000; P 216,000Abardeen Corporation borrowed $122,000 from the bank on October 1, Year 1. The note had an 6 percent annual rate of interest and matured on March 31, Year 2. Interest and principal were paid in cash on the maturity date. Required a. What amount of cash did Abardeen pay for interest in Year 1? b. What amount of interest expense was recognized on the Year 1 income statement? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) c. What amount of total liabilities was reported on the December 31, Year 1, balance sheet? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) d. What total amount of cash was paid to the bank on March 31, Year 2, for principal and interest? e. What amount of interest expense was reported on the Year 2 income statement? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) a. Amount of cash paid b. Interest expense c. Total liabilities d. Amount of cash…
- Abardeen Corporation borrowed $118,000 from the bank on October 1, Year 1. The note had an 6 percent annual rate of interest and matured on March 31, Year 2. Interest and principal were paid in cash on the maturity date. Required a. What amount of cash did Abardeen pay for interest in Year 1? b. What amount of interest expense was recognized on the Year 1 income statement? Note: Do not round intermediate calculations. Round your answer to the nearest dollar amount. c. What amount of total liabilities was reported on the December 31, Year 1, balance sheet? Note: Do not round intermediate calculations. Round your answer to the nearest dollar amount. d. What total amount of cash was paid to the bank on March 31, Year 2, for principal and interest? e. What amount of interest expense was reported on the Year 2 income statement? Note: Do not rbund intermediate calculations. Round your answer to the nearest dollar amount. a. Amount of cash paid b. Interest expense c. Total liabilities d.…In the past year, Blossom Corporation reported assets of $230229000. Liabilities reported on the balance sheet on the same date were reported at $69091655. Blossom issued a new note payable for cash during the year. The 8%, 5-year note was issued at a face value of $5008000. What is the company's debt to asset ratio after the refinance? O 29.37% 31.50% 32.18% O 30.01%Abardeen Corporation borrowed $147,000 from the bank on October 1, Year 1. The note had an 8 percent annual rate of interest and matured on March 31, Year 2. Interest and principal were paid in cash on the maturity date: Required a. What amount of cash did Abardeen pay for interest in Year 1? b. What amount of interest expense was recognized on the Year 1 income statement? (Do not round intermediate calculations. Rounc your answer to the nearest dollar amount.) c. What amount of total liabilities was reported on the December 31, Year 1. balance sheet? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) d. What total amount of cash was paid to the bank on March 31. Year 2, for principal and interest? e. What amount of interest expense was reported on the Year 2 income statement? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) Löö a. Amount of cash paid Interest expense b. c. Total liabilities d. Amount of…
- abardeen corporation borrowed 58,000 from the bank on october 1, year 1. the note had a 4 percent annual rate of interest and matured on march 31, year 2. interest and principal were paid in cash on the maturity date. d. what total amount of cash was paid to the bank on march 31, year 2, for principle and interest? e. what amount of interest expense was reported on the year 2 income statement?abardeen corporation borrowed 58,000 from the bank on october 1, year 1. The note had a 4 percent annual rate of interest and matured on march 31, year 2. interest and principal were paid in cash on the maturity date. a. what amount of cash did abardeen pay for interest in year 1? b. what amount of interest expense was recognized on the year 1 income statement? c. what amount of total liabilities was reported on december 31, year 1, balance sheet?BTS Inc. has recorded the following transactions on its book for the year 2021. How much total Cash Inflow from financing activities that BTS should reflected on its Statement of Cash Flow:i. Payment for interest of the issued bonds on April 1, 2021, 900.ii. Cash dividend received on the short-term investment, 5,000iii. Depreciation on plant that manufactures goods for sale, 6,000.iv. Payment of income tax on gain on sale of treasury bills, 2,000.v. Issued 500 ordinary shares for 50,000.vi. Received cash from interest on the acquired treasury bonds of BigHit Corp, 2,400.vii. Payment for marketable securities, 12,000
- Ray Company factored 6,000,000 of accounts receivable to a finance entity on October 1, 2020. Control was surrendered by Ray Company. The factor assessed a fee of 3% and retains a holdback equal to 5% of the accounts receivable. In addition, the factor changed 15% interest computed on a weighted average time to maturity of the accounts receivable of 54 days. What is the amount of cash initially received by Ray Company from the factoring?Cone Corporation is in the process of preparing its December 31, 2024, balance sheet. There are some questions as to the proper classification of the following items: a. $68,000 in cash restricted in a savings account to pay debt. The debt matures in 2028. b. Prepaid rent of $42,000, covering the period January 1, 2025, through December 31, 2026. c. Notes payable of $236,000. The notes are payable in annual installments of $38,000 each, with the first installment payable on March 1, 2025. d. Accrued interest payable of $30,000 related to the notes payable is due June 30, 2025. e. Investment in equity securities of other corporations, $116,000. Cone intends to sell one-half of the securities in 2025. Required: Prepare the asset and liability sections of a classified balance sheet to show how each of the above items should be reported. X Answer is not complete. CONE CORPORATION Balance Sheet (Partial) At December 31, 2024 Current assets: Prepaid rent Investment in equity securities…In your year end audit of A. Bonifacio Corporation, the Cashier showed a cashaccountability of P 240,000 as at December 31, 2019. The following transaction are summarized for theyear 2020:Disbursements for costs and expenses 15,000,000Income Tax Payable 200,000Payment of Notes Payable to BPI 800,000Proceeds of BDO borrowings – one year 2,000,000Ordinary Shares Subscribed 18,000,000Ordinary Shares Subscription Receivable 6,000,000Acquisition of various property and equipment 9,000,000Depreciation of property and equipment 600,000Accounts written off 100,000Collection from credit sales 11,200,000 What is the cashier’s accountability?