Use the following cash flow data of Haven Hardware for the year ended December 3

Question

Use the following cash flow data of Haven Hardware for the year ended December 31, 2012 Cash Dividend Purchase of Land Cash Payment on Interest Cash Payment on Salartes Sales of Equipment Retirement of Common Stock Purchase of Equipment Cash Payments to Suppliers Cash Collections from Customers Cash at the Beginning of the year $ 73,000 $ 31000 $ 26.000 $93,000 $ 79,000 $ 53,000 $ 63,000 $ 173,000 $515,000 $100,000 What is the net increase or decrease in cash for Haven Hardware for 2012? O -$98,000 O -$82000 O $82.000 O $182000

Explanation / Answer

1.

Total Cash disbursement = $73,000 + $31,000 + $26,000 + $93,000 + $63,000 + $173,000 + $53,000

= $512,000

Total Cash disbursement is $512,000

Total Cash collection = $79,000 + $515,000

= $594,000

Total cash collection = $594,000

Net change in cash = $594,000 - $512,000

= $82,000

Net Change in cash is $82,000.

Ending balance of cash = $100,000 + $82,000

= $182,000.

Ending balance of cash is $182,000.

Option (C) is correct answer.

37.

Begining balance of cash in 2008 = Ending balance of cash in 2007 = $57

Ending balance of cash in 2008 = $66

Cash from financing in 2008 is calculated below:

($66 - $57) = $121 - $153 + Cash from Financing

Cash from Financing = $9 + $32

= $41

Cash from financing in 2008 is $41.

Option (D) is correct answer.

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