141. A company reported average total assets of $496,000 in 2012 and $604,000 in 2013. Its net operating cash flow was $41,150 in 2012 and $55,500 in 2013. Calculate its cash flow on total assets ratio for both years. Comment on the results.
142. Use the following calendar-year information to prepare David Company's statement of cash flows using the direct method. You may omit the schedule reconciling net income and net cash provided or used by operating activities.
Cash paid to purchase machinery
$ 124,000
Cash paid for merchandise inventory
220,000
Cash paid for operating expenses
280,000
Cash paid for interest
4,000
Cash received for interest
10,000
Cash proceeds from sale of land
100,000
Cash balance at beginning of year
15,000
Cash balance at end of year
77,000
Cash borrowed on a short-term note
25,000
Cash dividends paid
24,000
Cash received from stock issuance
57,000
Cash collections from customers
522,000
143. Use the following information about the calendar-year cash flows of MacArthur Company to prepare a statement of cash flows (direct method) and a schedule of noncash investing and financing activities.
Cash and cash equivalents, beginning-year balance
$ 18,000
Cash and cash equivalents, year-end balance
78,750
Cash payments for merchandise inventory
75,750
Cash paid for store equipment
15,750
Cash borrowed on three-month note payable
22,500
12,000
Cash paid for salaries
39,000
Cash payments for other operating expenses
48,000
Building purchased and financed by long-term note payable
78,000
Cash received from customers
220,500
Cash interest received
8,250
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