Reference no: EM132865933
Question - Piccolo Company provided the following information for the year ended December 31, 2015.
Increase in long-term debt 600,000
Purchase of treasury shares 500,000
Depreciation and amortization 1,900,000
Gain on sale of equipment 100,000
Proceeds from issuance of ordinary shares 2,000,000
Purchase of equipment for cash 4,000,000
Proceeds from sale of equipment 400,000
Payment of dividends 700,000
Net income 4,500,000
Increase (decrease) in working capital accounts:
Accounts receivable 1,500,000
Inventory (800,000)
Trade notes payable 1,000,000
Accounts payable 1,200,000
Income tax payable (300,000)
Cash balance, January 1, 2015 1,500,000
Required -
1. What is the net cash provided by operating activities?
A.7,700,000 B.7,600,000 C.7,500,000 D.6,800,000
2. What is the net cash provided by investing activities?
A.4,300,000 B.4,000,000 C.3,600,000 D.400,000
3. What is the net cash provided by financing activities?
A.2,100,000 B.1,400,000 C.1,100,000 D.800,000
4. What is the cash balance on December 31, 2015?
A.8,900,000 B.7,500,000 C.6,800,000 D.5,300,000
5. The following information on selected cash transactions for 2020 has been provided by Mancuso Company:
Proceeds from sale of land 160,000
Proceeds from long-term borrowings 400,000
Purchases of plant assets 144,000
Purchases of inventories 680,000
Proceeds from sale of Mancuso ordinary shares 240,000
What is the cash provided or used by investing activities for the year ended December 31, 2020 as a result of the above information?
A.16,000 B.256,000 C.160,000 D.800,000