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1. Which of the following properly describes the impact on the financial statements when a company reports wage expense of $8,100, of which $3,100 remains unpaid?
2.
| Husky Company has provided the following information for its most recent year of operation: |
| Cash collected from customers totaled $91,200. |
| Cash borrowed from banks totaled $35,500. |
| Cash paid to employees totaled $34,000. |
| Cash paid for interest totaled $6,700. |
| Cash received from selling Husky stock to stockholders totaled $60,000. |
| Cash payments to banks for repayment of money borrowed totaled $9,400. |
| Cash paid for operating expenses totaled $9,800. |
| Land costing $38,000 was sold for $38,000 cash. |
| Cash paid for dividends to stockholders totaled $5,200. |
| How much was Husky’s cash flow from operating activities?
3.
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During 2010, Rock Company’s cash balance increased from $81,000 to $92,500. Rock’s net cash flow from operating activities was $38,500 and its net cash flow from financing activities was $13,500. How much was Rock’s net cash flow from investing activities?
4.
| Husky Company has provided the following information for its most recent year of operation: |
| Cash collected from customers totaled $89,400. |
| Cash borrowed from banks totaled $31,900. |
| Cash paid to employees totaled $32,200. |
| Cash paid for interest totaled $3,100. |
| Cash received from selling Husky stock to stockholders totaled $42,000. |
| Cash payments to banks for repayment of money borrowed totaled $7,600. |
| Cash paid for operating expenses totaled $8,000. |
| Land costing $20,000 was sold for $20,000 cash. |
| Cash paid for dividends to stockholders totaled $3,400. |
| How much was Husky’s cash flow from financing activities? |
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