Balance sheet data for Betty DeRose, Inc. for 2022 appears below: ...

80.2K

Verified Solution

Question

Accounting

Balance sheet data for Betty DeRose, Inc. for 2022 appears below:

January 1, 2022 December 31, 2022
ASSETS:
Cash

11,000 48,000
Account receivable 13,000 65,000
Land 68,000 37,000
Equipment 43,000 92,000
Accumluated depreciation <21,000> <38,000>
Trademark 0 14,000
Total Assests 114,000 218,000

Liabilities + Equity January 1, 2022 December 31, 2022
Income taxes payable 12,000 27,000
Notes payable 44,000 59,000
Common stock 27,000 78,000
Retained earnings 31,000 54,000
Total liabilities + equity 114,000 218,000
 Betty's 2022 income statement is given below: Service revenue 75,000 Depreciation expense 17,000 Gain on sale of land 44,000 Income tax expense 30,000 Net income 72,000

1) Calculate the net cash flow from INVESTING activities for 2022

2) Calculate the net cash flow from FINANCING activities for 2022

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students