Question

Increase Assets (Decrease) Cash and Cash equivalents 120,000 Available -for-sale securities 300,000 Inventory 80,000 Long -term...

Increase

Assets (Decrease)

Cash and Cash equivalents 120,000

Available -for-sale securities 300,000

Inventory 80,000

Long -term Investments -100,000

Plant Asset 700,000

Accumulated Depreciation 0

TOTAL 1,100,000

Liabilities and Stockholder's Equity

Accounts payable and accrued liabilities -5,000

Dividends Payable 160,000

Short term bank debt 325,000

Long term debt 110,000

Common stock 10 par 100,000

Additional paid in Capital 120,000

Retained earnings 290,000

TOTAL 1,100,000

The following additional information relates to 2010:

*Net income was 790,00

* Cash dividends of 500,000 were declared

* Building costing 600,000 and having a carrying amount of 350,000was sold for 350,000

*Equipment costing 110,000 was acquired through issuance of long-term debt

*A long term investment was sold for 135,000

There were no other transactions affecting long-term investments

*10,000 shares of common stock were issued for 22 a share

In Sanaol's 2010 statement of cash flows , Net cash provided by operating activities was?

a.) 705,000

b.) 920,000

c.) 1,160,000

d.)1,040,000

Business   Accounting   
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Homework Answers

Answer #1

Answer- In Sanaol's 2010 statement of cash flows , Net cash provided by operating activities was = $705000.

Explanation-

SANAOL
STATEMENT OF CASH FLOWS PARTIAL (USING INDIRECT METHOD)
FOR THE YEAR ENDED 31 DECEMBER,2010
Particulars Amount
$
Cash flow from operating activities
Net Income 790000
Adjustments to reconcile net income to net cash provided by operating activities
Adjustment for non cash effects
Change in operating assets & liabilities
Increase in inventory -80000
Decrease in accounts payable -5000
Net cash flow provided by operating activities 705000
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