17 motorcross company reported the following statement of cash flows for the month e 4352210

17.Motorcross Company reported the following statement of cash flows for the month ended September 30, 2007:

Motorcross Company

Statement of Cash Flows

For the Month Ended September 30, 2007

Cash collected from customers$470,000

Payments:

To suppliers of merchandise$290,000

To employees96,000

For income taxes44,000(430,000)

40,000

Purchase of equipment(116,000)

Sales of investments100,000(16,000)

Proceeds for issuing common stock200,000

Payment of dividends(30,000)170,000

$194,000

Required:

Determine (a) cash flow from operating activities, (b) cash flow from financing activities, (c) cash flow from investing activities, and (d) net increase (decrease) in cash.

18.Los Gatos Company had the following cash flows and other activities for the quarter ended March 31, 2007:

Depreciation expense$ 24,000

Paid for land75,000

Paid for merchandise540,000

Paid for income taxes42,000

Paid to employees180,000

Paid to owners45,000

Paid for rent27,000

Received from customers840,000

Received from issuing stock600,000

Received from sale of equipment30,000

Required:

Determine (a) net cash flow from operating activities, (b) net cash flow from investing activities, and (c) net cash flow from financing activities.

Posted in Uncategorized