Cash Debit Credit Balance, December 31, prior year Receipts from customers Receipts from equipment sale Receipts from issuing stock 11, 200 67, 200 Payments for inventory 29,000 Payments for salaries 44,800 Payments for land 34, 600 22, 400 56, 000 18, 800 3,600 Payments for a copyright Payments for dividends Balance, December 31, current year 16,800 Use the above Cash account to determine (a) cash flows used by investing activities and (b) cash flows provided by financing activities. a. Cash used by investing activities b. Cash provided by financing activities
Cash Debit Credit Balance, December 31, prior year Receipts from customers Receipts from equipment sale Receipts from issuing stock 11, 200 67, 200 Payments for inventory 29,000 Payments for salaries 44,800 Payments for land 34, 600 22, 400 56, 000 18, 800 3,600 Payments for a copyright Payments for dividends Balance, December 31, current year 16,800 Use the above Cash account to determine (a) cash flows used by investing activities and (b) cash flows provided by financing activities. a. Cash used by investing activities b. Cash provided by financing activities
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 16MCQ
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Question
![Cash
Debit
Credit
Balance, December 31, prior year
11, 200
Receipts from customers
Receipts from equipment sale
Receipts from issuing stock
67,200 Payments for inventory
29, 000 Payments for salaries
44,800 Payments for land
34,600
22, 400
56, 000
18, 800
3, 600
Payments for a copyright
Payments for dividends
Balance, December 31, current year
16,800
Use the above Cash account to determine (a) cash flows used by investing activities and (b) cash flows provided by financing activities.
a. Cash used by investing activities
b. Cash provided by financing activities](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97b5df25-1667-438a-b46e-c2a0d1ae7c86%2F63327a55-2652-46c9-acb5-99e8e6ef4f38%2Fsf75bgc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cash
Debit
Credit
Balance, December 31, prior year
11, 200
Receipts from customers
Receipts from equipment sale
Receipts from issuing stock
67,200 Payments for inventory
29, 000 Payments for salaries
44,800 Payments for land
34,600
22, 400
56, 000
18, 800
3, 600
Payments for a copyright
Payments for dividends
Balance, December 31, current year
16,800
Use the above Cash account to determine (a) cash flows used by investing activities and (b) cash flows provided by financing activities.
a. Cash used by investing activities
b. Cash provided by financing activities
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