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Statement of Cash Flows In 2008, Lower Case Productions had cash flows from investing activities of...

Statement of Cash Flows In 2008, Lower Case Productions had cash flows from investing activities of +$75,000 and cash flows from financing activities of +$95,000. The balance in the firm's cash account was $90,000 at the beginning of 2008 and $70,000 at the end of the year. What was Lower Case's cash flow from operations for 2008?

Scuba, Inc. is concerned about the taxes paid by the company in 2018. In addition to $5 million of taxable income, the firm received $80,000 of interest on state-issued bonds and $500,000 of dividends on common stock it owns in Boating Adventures, Inc. What are Scuba's tax liability, average tax rate, and marginal tax rate, respectively?

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Answer #1

Answer to Question 1:

Ending Cash Balance = Beginning Cash Balance + Net Increase (Decrease) in Cash
$70,000 = $90,000 + Net Increase (Decrease) in Cash
Net Increase (Decrease) in Cash = -$20,000

Net Increase (Decrease) in Cash = Cash flow from Operating Activities + Cash Flow from Investing Activities + Cash Flow from Financing Activities
-$20,000 = Cash flow from Operating Activities + $75,000 + $95,000
Cash flow from Operating Activities = -$190,000

Therefore, a cash of $190,000 is used in Operation during the year 2008.

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