Question

The following table shows cash flow data for Rocket Transport. Cash dividend $ 92,000 Purchase of...

The following table shows cash flow data for Rocket Transport.

Cash dividend $ 92,000
Purchase of bus $ 57,000
Interest paid on debt $ 37,000
Sales of old equipment $ 84,000
Repurchase of stock $ 79,000
Cash payments to suppliers $ 107,000
Cash collections from customers $ 420,000

a. Find the net cash provided by or used in investing activities.

b. Find the net cash provided by or used in financing activities. (Negative amount should be indicated by a minus sign.)

c. Find the net increase or decrease in cash for the year.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Rocket Transport
Statement of Cash Flows (Partial)
$ $
a. Cash Flows from Investing Activities:
Purchase of bus         (57,000.00)
Sales of old equipment          84,000.00
Cash provided by Investing Activities      27,000.00
b. Cash Flows from Financing Activities:
Repurchase of stock         (79,000.00)
Cash dividend         (92,000.00)
Interest paid on debt         (37,000.00)
Cash used in financing activities (208,000.00)
c. Net Increase in Cash = 27,000 + 420,000 - 208,000 - 107,000
= $132,000
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following table shows cash flow data for Rocket Transport. Cash dividend $ 84,000 Purchase of...
The following table shows cash flow data for Rocket Transport. Cash dividend $ 84,000 Purchase of bus $ 41,000 Interest paid on debt $ 29,000 Sales of old equipment $ 76,000 Repurchase of stock $ 63,000 Cash payments to suppliers $ 99,000 Cash collections from customers $ 340,000 a. Find the net cash provided by or used in investing activities. b. Find the net cash provided by or used in financing activities. (Negative amount should be indicated by a minus...
The following table shows cash flow data for Rocket Transport. Cash dividend $ 90,000 Purchase of...
The following table shows cash flow data for Rocket Transport. Cash dividend $ 90,000 Purchase of bus $ 53,000 Interest paid on debt $ 35,000 Sales of old equipment $ 82,000 Repurchase of stock $ 75,000 Cash payments to suppliers $ 105,000 Cash collections from customers $ 400,000 a. Find the net cash provided by or used in investing activities. b. Find the net cash provided by or used in financing activities. (Negative amount should be indicated by a minus...
Net income was $473,000. Issued common stock for $72,000 cash. Paid cash dividend of $16,000. Paid...
Net income was $473,000. Issued common stock for $72,000 cash. Paid cash dividend of $16,000. Paid $125,000 cash to settle a note payable at its $125,000 maturity value. Paid $121,000 cash to acquire its treasury stock. Purchased equipment for $92,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.)
Net income was $470,000. Issued common stock for $71,000 cash. Paid cash dividend of $11,000. Paid...
Net income was $470,000. Issued common stock for $71,000 cash. Paid cash dividend of $11,000. Paid $115,000 cash to settle a note payable at its $115,000 maturity value. Paid $118,000 cash to acquire its treasury stock. Purchased equipment for $92,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.)
1. Martinez Corporation had January 1 and December 31 balances as follows. 1/1/17 12/31/17 Inventory $78,000...
1. Martinez Corporation had January 1 and December 31 balances as follows. 1/1/17 12/31/17 Inventory $78,000 $93,000 Accounts payable 59,000 66,000 For 2017, cost of goods sold was $486,000. Compute Martinez’s 2017 cash payments to suppliers. Cash payments to suppliers $ 2. In 2017, Grouper Corporation had net cash provided by operating activities of $552,000, net cash used by investing activities of $1,057,000, and net cash provided by financing activities of $573,000. At January 1, 2017, the cash balance was...
A summary of cash flows for Paradise Travel Service for the year ended May 31, 20Y6,...
A summary of cash flows for Paradise Travel Service for the year ended May 31, 20Y6, follows: Cash Flows Cash receipts: Cash received from customers $1,486,000 Cash received from issuing common stock 37,000 Cash payments: Cash paid for operating expenses $1,219,000 Cash paid for land 178,000 Cash paid as dividends 23,000 The cash balance as of June 1, 20Y5, was $246,000. Labels Cash flows from financing activities Cash flows from investing activities Cash flows from operating activities Cash flows used...
The following information is available from Bromfield Co.’s accounting records for the year ended December 31,...
The following information is available from Bromfield Co.’s accounting records for the year ended December 31, 2019 (amounts in millions): Cash dividends declared and paid $ 329 Interest and taxes paid 68 Collections from customers 1,332 Payment of long-term debt 212 Purchase of land and buildings 160 Cash paid to suppliers and employees 835 Issuance of preferred stock 311 Proceeds from the sale of equipment 53 Required: Calculate the net cash provided (used) by operating activities for Bromfield Co. for...
A firm reports the following information from their financials for 2018: Financial Data 2018 Net cash...
A firm reports the following information from their financials for 2018: Financial Data 2018 Net cash provided by operating activities $427,000.00 Net cash used in investing activities -$97,000.00 Net cash provided by financing activities -$214,000.00 What is the net increase in cash and marketable securities for 2018? If the cash and marketable securities balance was $50,000 at the beginning of the year, what is the balance at the end of 2018?
McCorey Corporation recorded the following events last year: Repurchase by the company of its own common...
McCorey Corporation recorded the following events last year: Repurchase by the company of its own common stock $ 24,000 Sale of long-term investment $ 43,000 Interest paid to lenders $ 7,000 Dividends paid to the company's shareholders $ 53,000 Collection by McCorey of a loan made to another company $ 29,000 Payment of taxes to governmental bodies $ 17,000 On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities,...
The following items involve the cash flow activities of Prizzie Company for 2020: Net income $162,000...
The following items involve the cash flow activities of Prizzie Company for 2020: Net income $162,000 Payment of dividends 25,000 1,000 shares of stock issued at $20 par 20,000 Amortization expense on patents 7,000 Plant assets acquired at a cost of 75,000 Accounts receivable increase of 9,000 Accounts payable decrease of 10,000 Salaries payable increase of 6,500 Beginning cash balance 18,000 Required: Prepare the statement of cash flows of Prizzie Company for 2020 using the indirect method. Labels Financing Activities...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT