Reference no: EM131577869
Q1. Buffalo Corporation had the following activities in 2017.
Payment of accounts payable $833,0004.Collection of note receivable $96,0002.Issuance of common stock $234,0005.Issuance of bonds payable $548,0003.Payment of dividends $330,0006.Purchase of treasury stock $44,000
Compute the amount Buffalo should report as net cash provided (used) by financing activities in its 2017 statement of cash flow
Q2. Arla Corporation had the following activities in 2017.
Sale of land $174,0004.Purchase of equipment $433,0002.Purchase of inventory $787,0005.Issuance of common stock $311,0003.Purchase of treasury stock $65,0006.Purchase of available-for-sale debt securities $63,000
Compute the amount Carla should report as net cash provided (used) by investing activities in its 2017 statement of cash flows.
Q3. Martinez Corporation had the following 2017 income statement.
Sales revenue$188,000
Cost of goods sold111,000
Gross profit77,000
Operating expenses (includes depreciation of $19,000)52,000
Net income$25,000
The following accounts increased during 2017: Accounts Receivable $12,000, Inventory $12,000, Accounts Payable $13,000. Prepare the cash flows from operating activities section of Martinez's 2017 statement of cash flows using the direct method.
Q4. Windsor Corporation had the following 2017 income statement.
Sales revenue$195,000
Cost of goods sold115,000
Gross profit80,000
Operating expenses (includes depreciation of $20,000)53,000
Net income$27,000
The following accounts increased during 2017: Accounts Receivable $13,000, Inventory $12,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Windsor's 2017 statement of cash flows using the indirect method.