Royce Company had the following transactions during the fiscal year ended Decemb

Question

Royce Company had the following transactions during the fiscal year ended December 31, Year2 Accounts receivable decreased from $115,000 on Sold a truck with a net carrying amount of $7,000 for December 31, Year 1, to $100,000 on December 31, Year 2 $5,000 cash, reporting a loss of $2,000. . Paid interest to bondholders of $780,000. Royce's board of directors declared dividends on The cash balance was $106,000 on December 31, December 31, Year 2, of $.05 per share on the 2.8 million shares outstanding, payable to shareholders of record on January 31, Year 3. The company did not declare or pay dividends for fiscal Year 1 Year 1, and $284,000 on December 31, Year 2. The total of cash provided (used) by operating activities plus cash provided (used) by investing activities plus cash provided (used) by financing activities is A. Cash provided of $284,000. B. Cash used of $582,000. C. Equal to net income reported for fiscal year ended December 31, Year 2. D. Cash provided of $178,000.

Explanation / Answer

D Cash provided of $178,000 Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Amount Beginning cash balance           106,000.00 Ending Cash balance           284,000.00 Cash provided = 284000 - 106000           178,000.00

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