Quiz 1 Chapter 13

10-MINUTE QUIZ C SECTION

Using the following information, complete the statement of cash flows for Nutritional Foods for the year ended December 31, 2018. Place parentheses around those figures in the statement representing cash outlays.

Payments for purchase of land $ 416,000

Proceeds from sale of land $58,000

Proceeds from issuance of capital stock $347,000

Proceeds from issuance of bonds payable $99,000

Payments to settle short-term debt $74,000

Interest and dividends received $49,500

Cash received from customers $1,502,000

Dividends paid $182,000

Cash paid to suppliers and employees $1,172,000

Interest paid $66,000

Income taxes paid $115,500

Cash and cash equivalents, January 1, 2018 $86,000

Cash and cash equivalents, December 31, 2018 ?

NUTRITIONAL FOODS

Statement of Cash Flows

For the Year Ended December 31, 2018

Cash flows from operating activities (direct method):

Cash received from customers $

_________

Cash provided by operating activities $

$

_________

Cash disbursed for operating activities (_______)

Net cash flows from operating activities $

Cash flows from investing activities:

$

_________

Net cash used by investing activities ( )

Cash flows from financing activities:

$

_________

Net cash provided by financing activities _______

Net increase (decrease) in cash $

Cash and cash equivalents, beginning of year _______

Cash and cash equivalents, end of year $______