Question

The following information shows the changes in Mexican pesos of the balance sheet accounts of the...

The following information shows the changes in Mexican pesos of the balance sheet accounts of the company “La Norteña” at December 31 2014 compared to year 2013 .

In pesos mexicanos (MXP$)

IVA Receivable

($13,000)

Suppliers A/P payable

$27,000

Clients A/R receivables

($70,000)

Taxes payable

($1,000)

Advances from customers

($10,000)

Building

$100,000

Capital stock

$12,000

Bank loan L.T.

$140,000

Inventories

$90,000

Unearned Sales

($16,000)

Office equipment

$35,000

Rents paid in advance

$7,000

Franchise

$14,000

Accumulated Amortization

$10,000

Accumulated Depreciation

$1,500

Bonds payable > 1 Year

($65,000)

Reserve for expansion

$6,000

Premium on Stock

$9,000

 
Additional company information  in Mexican pesos ( MXP $ ):
 
Net income for 2014

$83,000

Retained Earnings 31 December 2014

$114,000

 
Retained Earnings on December 31, 2013

$55,000

Calculate the Financing Cash flow in $ ?

Business   Accounting   
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Homework Answers

Answer #1

Based on the information available in the question, we can calculate the Financing cash flow as follows:-

Cash flows from Financing activities
Increase in Capital Stock            12,000
Increase in Bank Loan Long term 140,000
Increase in Bonds Payable           (65,000)
Net Cash from financing activities            87,000

Based on the above calculation, the net cash from financing activities is $87,000. Please let me know if you have any questions via comments :)  

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