BProblemsChapter 11-1 - P roblem 11-1 2003 sales $8,743,000...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Problem 11-1 2003 sales ................................................................................................................................................................................. $8,743,000 Less: Change in accounts receivable ........................................................................................................................................ (70,000) Cash generated from sales during 2003 .................................................................................................................................... $8,673,000 Problem 11-2 a. Issuance of a 12-month note in return for $2 million cash is a financing source of cash. Use of $2 million cash to purchase equipment is an investment use of cash. b. Cash proceeds from the issuance of common stock is a financing source of cash. The use of cash to retire mortgage bonds is a financing use of cash. c. No cash effect. d. No cash effect. e. Cash proceeds from the sale of machinery is an investment source of cash. The above responses assume the direct method is used to present its cash flow of statement. Problem 11-4 Net loss ........................................................................................................................................................ $(11,000) Depreciation ................................................................................................................................................ 26,400 15,400 Accounts receivable (reduced) .....................................................................................................................
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern