Question

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:

  1. Calculate the net cash provided (used) by operating activities for Bromfield Co. for the year ended December 31, 2019.
  2. Calculate the net cash provided (used) by investing activities.
  3. Calculate the net cash provided (used) by financing activities.
  4. Calculate the net increase (decrease) in cash for the year.

Homework Answers

Answer #1

Solution:

Bromfield Co
Statement of Cash Flows
For year ended 2019
Particulars Details Amount (In millions)
Cash Flow from Operating Activities:
Collection from customers $1,332.00
Cash paid to suppliers and employees -$835.00
Interest and taxes paid -$68.00
Net Cash provided by operating activities $429.00
Cash Flow from Investing Activities:
Purchase of land and buildings -$160.00
Proceed from sale of equipment $53.00
Net Cash Provided by Investing activities -$107.00
Cash Flow from Financing Activities:
Dividend Paid -$329.00
Payment of long term debt -$212.00
Issuance of preferred stock $311.00
Net Cash used in financing activities -$230.00
Net Increase / (Decrease) in Cash $92.00
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