A6 please help..... Exercise 14-12A (Algo) Determining cash flows from financing activities LO 14-4On January 1, Year 1, Fanning Company had a balance of $114,000 in its Common Stock account. During Year 1, Fanning paid $11,800 topurchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account onDecember 31, Year 1, was $133,000. Assume that the common stock is no par stock.Requireda. Determine the cash inflow from the issue of common stock.b. Prepare the financing activities section of the Year 1 statement of cash flows.Complete this question by entering your answers in the tabs below.Required A Required BDetermine the cash inflow from the issue of common stock.Common stock issuedRequired B >

Cash Flow from Financing ActivitiesProceeds from issue of Common stock$30,800Purchase of Treasury…

Answered: Exercise 14-12A (Algo) Determining cash…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 5PA: Statement of cash flowsdirect method applied to PR 13-1A The comparative balance sheet of Livers...

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Common stock transactions on the statement of cash flows Jones Industries received 600,000 from issuing shares of its common stock and 400,000 from issuing bonds. During the year, Jones Industries also paid dividends of 60,000. How are the effects of these transactions reported on the statement of cash flows?
Exercise 12-12A (Algo) Determining cash flows from financing activities LO 12-4 On January 1, Year 1, Hardy Company had a balance of $101,000 in its Common Stock account. During Year 1, Hardy paid $37,500 to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December 31, Year 1, was $131,500. Assume that the common stock is no par stock. Required a. Determine the cash inflow from the issue of common stock. Cash inflow from the issue of common stock b. Prepare the financing activities section of the Year 1 statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from financing activities: Net cash flow from financing activities
Problem 14-16A (Algo) Determining cash flows from financing activities LO 14-4 The following information was drawn from the year-end balance sheets of Adams River, Inc. Account Title Year 2 Year 1 Bonds payable $635,000 Common stock 209,000 33,500 89, 100 Treasury stock Retained earnings Additional information regarding transactions occurring during Year 2: 1. Adams River, Inc. issued $48,800 of bonds during Year 2. The bonds were issued at face value. All bonds retired were retired at face value. 2. Common stock did not have a par value. 3. Adams River, Inc. uses the cost method to account for treasury stock. 4. The amount of net income shown on the Year 2 income statement was $33,500. Required a. Determine the amount of cash flow for the retirement bonds that should appear on the Year 2 statement of cash flows. b. Determine the amount of cash flow from the issue of common stock that should appear on the Year 2 statement of cash flows. c. Determine the amount of cash flow for the…
Question 21 In preparing Titan Inc.'s statement of cash flows for the year ended December 31, 2021, the following amounts were available: Collect note receivable $615,000 Issue bonds payable 639,000 Purchase treasury stock 300,000 What amount should be reported on Titan, Inc.'s statement of cash flows for investing activities? $339,000 $315,000 $615,000 $1,254,000
16 as 12-15 (Algo) Computing financing cash flows LO P3 The following information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value $ 124,000 Paid-in capital in excess of par 354,000 311,500 Retained earnings The company's net Income for the current year ended December 31 was $60,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Common Stock, $10 Par Beginning balance Ending balance Paid-in Capital in Excess of Par Beginning balance Ending balance Cash received 2. Complete the T-account to calculate the cash paid for dividends during the current year.. Beginning balance Ending balance $ 133,000 591.000 337,500 Retained Earnings
Exercise 12-11A (Algo) Determining cash flows from financing activities LO 12-4 On January 1, Year 1, DIBA Company had a balance of $426,000 in its Bonds Payable account. During Year 1, DIBA issued bonds with a $156,000 face value. There was no premium or discount associated with the bond issue. The balance in the Bonds Payable account on December 31, Year 1, was $284,000. Required a. Determine the cash outflow for the repayment of bond liabilities assuming that the bonds were retired at face value. Cash outflow for the repayment of bond liabilities b. Prepare the financing activities section of the Year 1 statement of cash flows. Note: Amounts to be deducted should be indicated with a minus sign. Cash flows from financing activities: Net cash flow from financing activities $ 0
22 Independent support inc issued a common stock for 490,000 in cash. The company declared and paid dividends of 48,000 and purchased treasury stock at 24,000. The financing section of the statement of cash flows will report net cash provided by financing activities of a. 442,000 B.514,000 C. 490,000 D.418,000
Determining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet for equity: Common stock Retained earnings Required: Jan. 1 $105,000 376,750 Dec. 31 $162,000 455,490 Assume that, for the current year, Nichols did not retire any stock, it reported $94,300 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows. Issuance of common stock Payment of cash dividends
The stockholders' equity accounts of Marigold Corp. on January 1, 2022, were as follows. Preferred Stock (8%, $50 par, cumulative, 11,000 shares authorized) $ 375,000 Common Stock ($1 stated value, 2,050,000 shares authorized) 1,150,000 Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (11,000 common shares) During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 24,000 shares of common stock for $115,000. Apr. 14 Sold 5,600 shares of treasury stock-common for $33,200. Sept. 3 Nov. 10 Dec. 31 110,000 1,450,000 1,750,000 55,000 No dividends were declared during the year. (a) Issued 4,800 shares of common stock for a patent valued at $34,600. Purchased 1,100 shares of common stock for the treasury at a cost of $6,200. Determined that net income for the year was $485,000. Journalize the transactions and the closing entry for net…
Chapter 16: Cash Flow Statement Homework Assignment he comparative partial balance sheets of Barry Company, for Years 1 and 2 ended December 31, appear below in condensed form. Year 2 $72,000 Year 1 Assets $42,500 Cash 61,000 70,200 Accounts Receivable (net) Inventories Investments Equipment 121,000 105,000 100,000 - 575,000 425,000 Liabilities and Equity $ 59,750 $ 47,250 Accounts Payable Bond Payable Common Stock, $30 par 75,000 400,000 325,000 Additional data for the current year are as follows: Net income, $75,800. (a) Depreciation reported on income statement, $38,000. (b) Equipment was purchased for $150,000. (p) 2,500 shares of common stock were issued for $30 cash. Bond Payable for $75,000 were paid off by cash payment at their face amount. Cash dividends declared and paid, $40,000. () Investments of $100,000 were sold for $125,000 (That means gain of $25,000) (8) P.S: The above comparative balance sheets were adjusted for the purpose of this assignment and they are not…
The following is an extract from the financial statements of Pompeii at 31 October: 20X7 20X6 $00 $000 Equity and liabilities: Share capital 120 80 Share premium 60 40 Retained earnings 85 68 265 188 Non-current liabilities: Bank loan 100 150 365 338 What Pompeii's net cash inflow or outflow from financing activities to include in the statement of cash flows for the year ended 31 October 20X7?
BALANCE SHEET Cash $ 140.0 Accounts payable $ 800 .0 Accts. receivable 880 .0 Notes payable 600.0 Inventories 1,320.0 Accruals 400 .0 Total current assets $2,340.0 Total current liabilities $1,800.0 Long-term bonds 1,000.0 Total debt $2,800.0 Common stock 200 .0 Retained earnings 1,000.0 Net plant & equip. 1,660.0 Total common equity $1,200.0 Total assets $4.000.0 Total liabilities & equity $4.000.0 lNCOME STATEMENT Net sales $6,000.0 Operating costs 5,599.8 Depreciation 100.2 EBIT $ 300.0 Less: Interest 96 .0 EBT $ 204 .0 Less: Taxes 81.6 Net income $ 122.4 OTHER DATA Annual Principal and Lease Payments 0.00 Shares outstanding (millions) 60 .00 Common dividends (millions) $42.8 Interest rate on NIP and long-term bonds 6.0 % Federal plus state income tax rate 40% Year-end stock price $30 .60 Question 1 What is the firm's EPS (Earnings Per Share)? Group of answer choices $2.04 $2.11 $2.25 $2.39 Question 2 What is the firm's Current Ratio? Group of…

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