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(Answered) Use the following information for questions: Jamison cops


Use the following information for questions:

 

Jamison cops
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Use the following information for questions: ,

 

Jamison cops balance sheet accounts as of dec. 31 2015 and 2014 in info relating to 2015 activities:,

 

Assets 2015 / 1014,

 

cash 440,000 / 200,000,

 

short-term investments 600,000 / 0,

 

Accounts receivable (net) 1,020,000/ 1,020,000,

 

Inventory 1,380,000 / 1,200,000,

 

Long-term investments 400,000 / 600,000,

 

Plant assets 3,400,000 / 2,000,000,

 

Acc. Dep. (900,000) / (900,000),

 

Patent 180,000 / 200,000,

 

Total assets 6,520,000 / 4,320,000,

 

,

 

Liabilities and Stockholder's Equity,

 

Accounts Payable 1,660,000 / 1,440,000,

 

Notes payable (nontrade) 580,000 / 0,

 

Common Stock, $10 par 1,600,000 / 1,400,000,

 

Add. pain-in capital 800,000 / 500,000,

 

Retained earnings 1,880,000 / 980,000,

 

Total liabilities and stockholders equity 6,520,000 / 4,320,000,

 

,

 

Information relating to 2015:,

 

Net income $1,300,000,

 

cash dividends declared and paid $400,000,

 

equipment costing $1,000,000 with carrying value of $320,000 sold for $360,000,

 

Long term investment sold for $320,000,

 

20,000 shares of common stock were issued for $25/share,

 

short-term investments consist of treasury bills maturing on 60/30/16,

 

,

 

Questions:,

 

,

 

1) Net cash provided by jamison operating activities was?,

 

,

 

2) Net cash used in Jamison's investing activities was?,

 

,

 

3)Net cash provided by jamison financing activities was?,

 

,

 

Use the following information:,

 

Smiley corp's transactions for the year ending Dec. 31 2015:,

 

Purchased real estate for $625,000 cash borrowed from a bank,

 

Sold available-for-sale securities for $500,000,

 

Paid dividends of $600,000,

 

Issued 500 shares of common stock for $250,000,

 

paid $450,000 towards a bank loan,

 

purchased machinery and equipment for $125,000,

 

Reduced accounts receivable by $100,000,

 

Increased accounts payable $200,000,

 

,

 

4) Smiley's net cash used in investing activities for 2015 was?,

 

,

 

5) Smiley's net cash used in financing activities for 2015 was?,

 

,

 

Use the following information:,

 

Peavy corp's transactions for the year ending Dec. 31 2015 including the following,

 

Acquired 50% of Gant corp's common stock for $200,000 cash which was borrowed from a bank,

 

Issued 5,000 shares of its preferred stock for land having fair value of $320,000,

 

Issued 500 of its 11% debenture bonds due 2020 for $392,000 cash,

 

Purchased a patent for $220,000 cash,

 

Paid $120,000 toward a bank loan,

 

Sold available-for-sale securities for $796,000,

 

Had a net increase in returnable customer deposits (long-term) of $88,000,

 

,

 

6) Peavy's net cash provided by investing activities for 2015 was?,

 

,

 

7) Peavy's net cash provided by financing activities for 2015 was?

 


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