Business, 02.11.2020 16:30 j015

Use the following cash flow data of Haven Hardware for the year ended December 31, 2017. Cash Dividend $ 70,000 Purchase of Land $ 28,000 Cash Payment on Interest $ 20,000 Cash Payment on Salaries $ 90,000 Sales of Equipment $ 76,000 Retirement of Common Stock $ 50,000 Purchase of Equipment $ 60,000 Cash Payments to Suppliers $ 170,000 Cash Collections from Customers $ 500,000 Cash at the Beginning of the Year $ 100,000 What is the net increase or decrease in cash for Haven Hardware for 2017

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Answer from: bnnn

$88,000 net increase

Explanation:

The Cash flow Statement can be used to determine the movement in cash during the Financial Period. This Statement shows Cash movement on three levels that is : the Operating Activities. Investing Activities and Financing Activities.

Cash Flow Statement for the year ended December 31, 2017

Cash Flow from Operating Activities

Collections from Customers $ 500,000

Cash Payments to Suppliers and Employees ($ 260,000)

Cash Generated from Operations $ 240,000

Cash Payment on Interest ($ 20,000)

Net Cash from Operating Activities $ 220,000

Cash Flow from Investing Activities

Purchase of Equipment ($ 60,000)

Sales of Equipment $ 76,000

Purchase of Land ($ 28,000)

Net Cash from Financing Activities ($12,000)

Cash Flow from Financing Activities

Dividend ($ 70,000)

Common Stock ($ 50,000)

Net Cash Flow from Financing Activities ($120,000)

Movement of Cash and Cash Equivalents $88,000

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Use the following cash flow data of Haven Hardware for the year ended December 31, 2017. Cash Divide...

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