Award: 3.94 out of 4.50 points For each of the following items, calculate the ca

Question

Award: 3.94 out of 4.50 points For each of the following items, calculate the cash sources or cash uses that should be recognized on the statement of cash flows for Baldin Co. for the year ended December 31, 2016: Required a. Sales on account (all are collectible) amounted to $753,000, and accounts receivable decreased by $20,400. How much cash was collected from customers? Source f cash 773,400 b. Income tax expense for the year was $148,000, and income taxes payable decreased by $36,400. How much cash was paid for income taxes? Use S 184,400 c. Cost of goods sold amounted to $405,000, accounts payable increased by $20,600, and inventories increased by $14,300. How much cash was paid to suppliers? 32°C 32%) CPU?? Use Olofcash? 0 S 411,300 d. The net book value of buildings increased by $225,000. No buildings were sold, and depreciation expense for the year was $189,000. How much cash was paid to purchase buildings? Useof cash 14,0000

Explanation / Answer

a) Source of cash 773400

b) Use of cash 184400

Cash paid to supplier = 405000-20600+14300 = 398700

c) Use of cash $398700

d) Use of cash $414000

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