Net cash flow from financing activities

Assignment Help Financial Accounting

Reference no: EM131202541

The following account balances were taken from ABC Company's 2020 balance sheets: January 1, 2020 December 31, 2020 Accounts payable ? 50,000 Accounts receivable ? 82,000 Cash 35,000 38,000 Common stock 105,000 135,000 Inventory 70,000 ? Income taxes payable 17,000 ? Land 130,000 190,000 Retained earnings ? 162,000 Short-term notes payable 45,000 40,000 The following information was taken from ABC Company's 2020 income statement: Total revenues 500,000 Total expenses <430,000> Net income 70,000 The following information was taken from ABC Company's 2020 statement of cash flows: Net cash flow from operating activities 93,000 Net cash flow from investing activities <60,000> Net cash flow from financing activities <30,000> Net change in cash 3,000 Calculate the balance in the retained earnings account at January 1, 2020. Do not use decimals in your answer.

Reference no: EM131202541

Questions Cloud

Compare and contrast holism versus reductionism : The paper will be five pages: (a) Describe Holism - 2 pages, (b) Describe Reductionism - 2 pages, (c) Compare and contrast Holism versus Reductionism - 1 page.

Uses the weighted-average method in process costing system : Acklac Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 700 units.

Prepare a powerpoint about you as a learner : Prepare a PowerPoint about you as a learner-past, present, and future. - This presentation include personal mission statement and ideas about you as a learner.

Explain how mobile and wearable devices are different : Based on what you have learned about mobile and wearable computing devices, prepare a 5-slide presentation to a department head or the CEO of a company to convince the audience that these devices and the data from these devices would benefit their..

Net cash flow from financing activities : The following account balances were taken from ABC Company's 2020 balance sheets: January 1, 2020 December 31, 2020 Accounts payable ? 50,000 Accounts receivable ? 82,000 Cash 35,000 38,000 Common stock 105,000 135,000 Inventory 70,000 ? Income taxes..

Determine the magnitude of the buoyant force : A 60-kg snorkeler (including snorkel, mask, and other gear) displaces 0.058 m3 of water when1.2 m under the surface.

The amount of track improvement cost : The East and West Railroad has two divisions, the East Division and the West Division. The company recently invested $740,000 to maintain its railroad track. East Division 740,000 miles West Division 1,140,000 miles The amount of track improvement co..

Determine the force p required to pull the block b : Two blocks, A and B have a mass of 100kg each. Coefficient of friction between all surfaces= 0.3. Determine the force P required to pull the block B from under the block A. Block A is held in place and wont move. (answer is 883)

Calculate the net cash flow from investing activities : The following selected account balances were taken from Buckeye Company's general ledger at January 1, 2018 and December 31, 2018: Calculate the net cash flow from investing activities for 2018.

User Account

All Pages