Problem: The N Company's cash balance at January 1, 2013, was $150,000. The following information was reported on the company statement of cash flows for 2013: Net income $360,000 Depreciation and amortization 110,000 Increase in accounts receivable 58,000 Increase in inventory 120,000 Decrease in accounts payable 40,000 Dividends paid to shareholders 25,000 Proceeds from sale of common stock 500,000 Repayment of bonds payable 200,000 Proceeds from sale of equipment,book value = $84,000 50,000 Purchase of land and building 300,000 The N Company's balance sheet would report the balance of Cash on December 31, 2013 a) $311,000. b) $410,000 c) $426,000 d) $461,000.
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The N Company's cash balance at January 1, 2013, was $150,000. The following information was reported on the company statement of cash flows for 2013:
Net income $360,000
Depreciation and amortization 110,000
Increase in accounts receivable 58,000
Increase in inventory 120,000
Decrease in accounts payable 40,000
Dividends paid to shareholders 25,000
Proceeds from sale of common stock 500,000
Repayment of bonds payable 200,000
Proceeds from sale of equipment,book value = $84,000 50,000
Purchase of land and building 300,000
The N Company's balance sheet would report the balance of Cash on December 31, 2013
a) $311,000.
b) $410,000
c) $426,000
d) $461,000.
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