LO 16.1Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N).
- Paid $22,000 cash on bonds payable.
- Collected $12,600 cash for a note receivable.
- Declared a dividend to shareholders for $16,000, to be paid in the future.
- Paid $26,500 to suppliers for purchases on account.
- Purchased treasury stock for $18,000 cash.
LO 16.2In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.)
- collected accounts receivable from customers
- issued common stock for cash
- declared and paid dividends
- paid accounts payable balance
- sold a long-term asset for the same amount as purchased
LO 16.2In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.)
- purchased stock in Xerox Corporation
- purchased office supplies
- issued common stock
- sold plant assets for cash
- sold equipment for cash
LO 16.3Use the following information from Hamlin Company’s financial statements to determine operating net cash flows (indirect method).
LO 16.3What adjustment(s) should be made to reconcile net income to net cash flows from operating activities (indirect method) considering the following balances in current assets?
LO 16.3Use the following excerpts from Indigo Company’s balance sheets to determine net cash flows from operating activities (indirect method), assuming net income for 2018 of $225,000.
LO 16.3Use the following information from Jumper Company’s financial statements to determine operating net cash flows (indirect method).
LO 16.3Use the following information from Kentucky Company’s financial statements to determine operating net cash flows (indirect method).
LO 16.3Use the following excerpts from Leopard Company’s financial records to determine net cash flows from investing activities.
LO 16.3Use the following information from Manuscript Company’s financial records to determine net cash flows from financing activities.
LO 16.3Use the following excerpts from Nutmeg Company’s financial records to determine net cash flows from operating activities and net cash flows from investing activities.
LO 16.4Provide the missing piece of information for the following statement of cash flows puzzle.
LO 16.4Provide the missing piece of information for the following statement of cash flows puzzle.
LO 16.5Use the following excerpts from Indira Company’s Statement of Cash Flows and other financial records to determine the company’s free cash flow.
LO 16.5Use the following excerpts from Bolognese Company’s statement of cash flows and other financial records to determine the company’s free cash flow for 2018 and 2017.
LO 16.5The following shows excerpts from Camole Company’s statement of cash flows and other financial records.
Compute the following for the company:
- free cash flow
- cash flows to sales ratio
- cash flows to assets ratio
LO 16.6Use the following excerpts from Brownstone Company’s financial statements to determine cash received from customers in 2018.
LO 16.6Use the following excerpts from Jasper Company’s financial statements to determine cash paid to suppliers for inventory in 2018.