The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 are shown...

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Question

Accounting

The balance sheet data of Ivanhoe Company at the end of 2017 and2016 are shown below.
2017
2016
Cash
$29,800
$35,300
Accounts receivable (net)
54,500
44,900
Inventory
65,000
44,900
Prepaid expenses
15,200
24,700
Equipment
90,000
74,700
Accumulated depreciation—equipment
(18,000
)
(8,100
)
Land
70,500
40,000
$307,000
$256,400
Accounts payable
$64,900
$51,700
Accrued expenses
15,000
17,800
Notes payable—bank, long-term
–0–
22,800
Bonds payable
30,000
–0–
Common stock, $10 par
188,000
157,500
Retained earnings
9,100
6,600
$307,000
$256,400
Land was acquired for $30,500 in exchange for common stock, par$30,500, during the year; all equipment purchased was for cash.Equipment costing $12,900 was sold for $3,000; book value of theequipment was $6,000. Cash dividends of $10,000 were declared andpaid during the year.

Compute net cash provided (used) by:
(a) Net Cash                                                      provided/ used by operating activities.
$
(b) Net Cash                                                      used/ provided by investing activities.
$
(c) Net Cash                                                      used/ provided by financing activities.
$

Answer & Explanation Solved by verified expert

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Solution Ivanhoe Company Statement of Cash Flows For year ended 2017 Particulars Details Amount Cash Flow from Operating Activities Net Income 9100 6600 10000 1250000 Adjustments to reconcile net income to net cash provided by See Answer

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The balance sheet data of Ivanhoe Company at the end of 2017 and 2016 are shown...

70.2K

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Accounting

Answer & Explanation Solved by verified expert

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	2017		2016
Cash	$29,800		$35,300
Accounts receivable (net)	54,500		44,900
Inventory	65,000		44,900
Prepaid expenses	15,200		24,700
Equipment	90,000		74,700
Accumulated depreciation—equipment	(18,000	)	(8,100	)
Land	70,500		40,000
	$307,000		$256,400

Accounts payable	$64,900		$51,700
Accrued expenses	15,000		17,800
Notes payable—bank, long-term	–0–		22,800
Bonds payable	30,000		–0–
Common stock, $10 par	188,000		157,500
Retained earnings	9,100		6,600
	$307,000		$256,400

(a)	Net Cash provided/ used by operating activities.	$
(b)	Net Cash used/ provided by investing activities.	$
(c)	Net Cash used/ provided by financing activities.	$