Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 9.00

Reve Co

Items 1 and 2 are based on the following:

In preparing its cash flow statement for the year ended December 31, 2006, Reve Co. collected the following data:

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Gain on sale of equipment

$ (6,000)

Proceeds from sale of equipment

10,000

Purchase of A.S., Inc. bonds (par value $200,000)

(180,000)

Amortization of bond discount

2,000

Dividends declared

(45,000)

Dividends paid

(38,000)

Proceeds from sale of treasury stock (carrying amount $65,000)

75,000

In its December 31, 2006 statement of cash flows,

What amount should Reve report as net cash used in investing activities?

  1. $170,000
  2. $176,000
  3. $188,000
  4. $194,000

What amount should Reve report as net cash provided by financing activities?

  1. $20,000
  2. $27,000
  3. $30,000
  4. $37,000

Answers

(5)
Status NEW Posted 26 Sep 2017 11:09 PM My Price 9.00

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