Question 27 text In preparing a company\'s statement of cash flows for the year

Question

Question 27 text

In preparing a company's statement of cash flows for the year just ended, the following information is available:
Loss on the sale of equipment: 14000
Purchase of equipment: 145,000
Proceeds from the sale of equipment: 126000
Repayment of outstanding stock: 87000
Purchase of treasury stock: 62000
Issuance of common stock: 96000
Purchase of Land: 115000
Increase in accounts receivable during the year: 43000
Decrease in accounts payable during the year: 75000
Payment of cash dividends: 35000Answers:
Net cash flows from financing activities for the year were:
Answer
Question 27 answers

A.$130,000 of net cash used by financing activities.

B.$165,000 of net cash used by financing activities.

C.$222,000 of net cash used by financing activities.

D.$88,000 of net cash used by financing activities.

E.$206,000 of net cash used by financing activities.

Question 24

Question 24 text

A company may retire bonds by:
Answer
Question 24 answers

Exercising a call option.

The holders converting them to stock.

Purchasing the bonds on the open market.

Paying them off at maturity.

All of these.

Question 22

Question 22 text

A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.
Answer
Question 22 answers

$139,000.

$141,000.

$145,800.

$155,000.

$167,000.

Explanation / Answer

Particulars

$

Particulars $ Cash flows from financing activities: Re payment of outstanding stock -87,000 Purchase of treasury stock -62,000 Issuance of common stock 96,000 Cash dividend paid -35,000 Net cash used by financing activities -88,000

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