Jelly Bean Company uses the indirect method to prepare its statement of cash flows
Refer to the following portion of the comparative balance sheet:
Jelly Bean Company
Comparative Balance Sheet
December 31, 2017 and 2016
2016 2015 Increase/(Decrease)
Common Stock $31,000 $2,200 $28,800
Retained Earnings 120,000 79,000 41,000
Treasury Stock (13,000 ) (8,500 ) (4,500 )
Total Equity $138,000 $72,700 $65,300
Note:
1. There were no stock retirements during the year.
2. There were no sales of treasury stock during the year.
Compute the cash flow from transactions involving treasury stock.
A) zero net cash flow
B) $4,500 of positive cash flow
C) $4,500 negative cash flow
D) $13,000 negative cash flow
C
You might also like to view...
When compared to other types of sales presentations, memorized selling is the:
A. most interactive. B. least used in telemarketing. C. least communicated. D. most structured. E. most used in technical sales.
Who is Charles Jones?
a. Beech-Nut's purchasing manager b. Beech-Nut's CEO c. Beech-Nut's head of chemistry d. Beech-Nut's general counsel
A sole proprietorship comes into existence when:
a. a person in business hires at least one employee b. two or more persons join together to work at a business c. a charter is received from the secretary of state d. when a federal tax identification number is issued for the business e. none of the other choices
A ________ is an older attack that uses an illegally large IP packet to crash an operating system
A) smurf flood B) P2P redirect C) ping of death D) None of the above