In order to prepare the statement of cash flows for Building Blocks Corporation for 2006, the accountant has compiled the following data regarding cash flows:
Cash paid to acquire marketable securities $ 370,000
Proceeds from sale of marketable securities 17,500
Proceeds from issuance of capital stock 280,000
Proceeds from issuance of bonds payable 55,000
Payments to settle short term debt 32,500
Interest and dividends received 10,000
Cash received from customers ?
Dividends paid 130,000
Cash paid to suppliers and employees 1,030,000
Interest paid 25,000
Income taxes paid 70,000
Cash and cash equivalents, January 1, 2006 43,000
Cash and cash equivalents, December 31, 2006 58,000
Using the above information, indicate the best answer for each question in the space provided.
24. Building Blocks' cash flow from investing activities during 2006 is:
a $390,000 net cash used by investing activities.
b $322,500 net cash provided by investing activities.
c $352,500 net cash used by investing activities.
d $360,000 net cash used by investing activities.
25. Building Blocks' cash flow from financing activities during 2006 is:
a $322,500 net cash provided by financing activities.
b $172,500 net cash provided by financing activities.
c $127,500 net cash provided by financing activities.
d $375,000 net cash provided by financing activities.
26. Building Blocks' cash flow from operating activities during 2006 is:
a $45,000 net cash provided by operating activities.
b $1,155,000 net cash used by operating activities.
c $240,000 net cash provided by operating activities.
d $195,000 net cash provided by operating activities.
27. In the 2006 statement of cash flows for Building Blocks Corporation, the amount of cash received from customers is:
a $1,283,000.
b $1,103,000.
c $1,233,000.
d $1,293,000.
28. The balance sheet of Aurora Designs includes the following items:
Accounts Receivable Cash
Capital Stock Accounts Payable
Equipment Supplies
Notes Payable Notes Receivable
This list includes:
a Four assets and three liabilities.
b Five assets and three liabilities.
c Five assets and two liabilities.
d Six assets and two liabilities.