Question

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?

Homework Answers

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.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Statement of Cash Flows In 2008, Upper Crust had cash flows from investing activities of −$260,000...
Statement of Cash Flows In 2008, Upper Crust had cash flows from investing activities of −$260,000 and cash flows from financing activities of −$161,000. The balance in the firm's cash account was $88,000 at the beginning of 2008 and $116,000 at the end of the year. What was Upper Crust's cash flow from operations for 2008?
In 2018, Webb Sports Shop had cash flows from investing activities of $2,727,000 and cash flows...
In 2018, Webb Sports Shop had cash flows from investing activities of $2,727,000 and cash flows from financing activities of $3,619,000. The balance in the firm’s cash account was $1,110,000 at the beginning of 2018 and $1,201,000 at the end of the year. Calculate Webb Sports Shop’s cash flow from operations for 2018.
A statement of Cash Flows contains the following sections: Cash Flows from Operating Activities Cash Flows...
A statement of Cash Flows contains the following sections: Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities Investing and Financing Activities NOT affecting cash A list of items that appear on the Cash Flows Statement appear below: Using the letters (A-D), indicate in which section(s) of the statement of cash flows (or accompanying schedule) the preceding items would most likely be classified       -       A.       B.      ...
Scenario Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities...
Scenario Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities 1. + + + 2. + + - 3. + - + 4. + - - 5. - + + 6. - + - 7. - - + 8. - - - Based on the chart above which company profile will be fit the cash flow pattern for scenario 2? A Successful, but actively relocating using financing from operations with cash from creditors and...
Cash Flows from Investing and Financing Activities Determine the amount of cash received and paid for...
Cash Flows from Investing and Financing Activities Determine the amount of cash received and paid for financing and investing activities and the cash flows as they would appear on Rogerson’s statement of cash flows for the year ended December 31, 20-2. Use a minus to indicate any decreases in cash or cash outflows. Rogerson Company’s comparative balance sheet as of December 31, 20-2 and 20-1, showed the following with regard to investing and financing activities: 20-2 20-1 Building $130,100    $0   ...
13. AOS Industries Statement of Cash Flows for 2008 Operating activities                              &nb
13. AOS Industries Statement of Cash Flows for 2008 Operating activities                                                                          Net Income                                                                   3.2         Depreciation and amortization                              1.4         Cash effect of changes in                 Accounts receivable                                         -1.9                 Accounts payable                                               1.0                 Inventory                                                              -0.6 Cash from operating activities                                     3.1 Investment activities         Capital expenditures                                                -2.2         Acquisitions and other investing activity         -0.4 Cash from investing activities                                     -2.6 Financing activities         Dividends paid                                                           -1.0         Sale or purchase of stock                                          2.1         Increase in short-term borrowing                          1.4         Increase in long-term borrowing                           3.2 Cash from financing activities                                     5.7 Change in Cash and Cash Equivalents                     6.2 Consider the above statement of cash flows. If all amounts...
Question 19 The statement of cash flows does not include a. Cash flows from financing activities...
Question 19 The statement of cash flows does not include a. Cash flows from financing activities b. Changes in Net Assets c. Cash flows from investing activities d. Cash flows from operating activities
Cash flows from a firm's normal business activities are reflected in: 1. cash flows from investing....
Cash flows from a firm's normal business activities are reflected in: 1. cash flows from investing. 2. cash flows from financing. 3. cash flows from operations. 4. i. cash flows from income. 5. cash flows from budgeting.
State the section(s) of the statement of cash flows prepared by the indirect method (operating activities,...
State the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following transactions: Note: Only consider the cash component of each transaction. Use the minus sign to indicate amounts that are cash out flows, cash payments, decreases in cash, or any negative adjustments. If your answer is not reported in an amount box does not require an...
Cash flows from investing activities: a. Equipment with a book value of $79,000 and an original...
Cash flows from investing activities: a. Equipment with a book value of $79,000 and an original cost of $166,000 was sold at a loss of $31,000. b. Paid $109,000 cash for a new truck. c. Sold land costing $320,000 for $415,000 cash, yielding a gain of $95,000. d. Long-term investments in stock were sold for $97,700 cash, yielding a gain of $16,250.     Use the above information to determine this company's cash flows from investing activities. (Amounts to be deducted...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT