Financial statements of Rukavina Corporation follow:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$36 $38 Accounts receivable 39 44 Inventory 34 35 Property, plant, and equipment 386 360 Less accumulated depreciation 202 191 Total assets$ 293 $ 286 Liabilities and stockholders' equity: Accounts payable$71 $61 Bonds payable 176 220 Common stock 81 80 Retained earnings ( 35) ( 75)Total liabilities and stockholders' equity$ 293 $ 286 Income StatementSales$ 518Cost of goods sold 336Gross margin182Selling and administrative expense 113Net operating income69Income taxes 21Net income$ 48Cash dividends were $8. The company did not dispose of any property, plant, and
equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows.The net cash provided by (used in) financing activities for the year was:
A. $(51)
B. $(8)
C. $1
D. $(44)
Answer: A
You might also like to view...
Which of the following statements is true of online reputation management?
A) Mild doses of negative information after exposure to positive information may increase customers' positive impression about a product. B) Developing an online reputation management strategy is an important element to branding strategy only at the product category level. C) A reactive approach to online reputation management is better than a proactive approach. D) Highlighting customer-generated negative reviews is never beneficial for a company.
Samuel manages an automobile dealership. He overheard a customer complaining to his salesperson, Noreen, that he wasn’t happy that the vehicles were made in Japan, rather than in the United States. The customer clearly felt that more vehicles should be made in his country. The customer was demonstrating ______ syndrome.
a. not in my backyard b. not invented here c. domestic product favoritism d. home country product preference
Adjusting entries do not affect the cash account.
Indicate whether the statement is true or false.
Years with negative balances in the savings schedule implies that loans would be needed to achieve the goals
Indicate whether the statement is true or false.