Exercise 23-16

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Question: Exercise 23-16 The balance sheet data of Cheyenne Company at the end of 2017 and 2016 are shown b…
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The balance sheet data of Cheyenne Company at the end of 2017
and 2016 are shown below.

2017

2016

Cash

$29,800

$35,200

Accounts receivable (net)

55,300

45,200

Inventory

65,200

45,500

Prepaid expenses

15,000

25,200

Equipment

89,900

74,600

Accumulated depreciation—equipment

(17,980

)

(7,900

)

Land

70,600

40,300

$307,820

$258,100

Accounts payable

$65,500

$52,100

Accrued expenses

15,000

17,900

Notes payable—bank, long-term

–0–

23,100

Bonds payable

30,300

–0–

Common stock, $10 par

188,000

157,700

Retained earnings

9,020

7,300

$307,820

$258,100

Land was acquired for $30,300 in exchange for common stock, par
$30,300, during the year; all equipment purchased was for cash.
Equipment costing $13,100 was sold for $3,000; book value of the
equipment was $6,100. Cash dividends of $10,000 were declared and
paid during the year.

Compute net cash provided (used) by: (Show amounts that
decrease cash flow with either a – sign e.g. -12,000 or in
parenthesis e.g. (12,000).)

(a)

Net Cash

Question: Exercise 23-16The balance sheet data of Cheyenne Company at the end of 2017and 2016 are shown b...
(provided/used)

by operating activities.

$

Question: Exercise 23-16The balance sheet data of Cheyenne Company at the end of 2017and 2016 are shown b...

(b) Net Cash

Question: Exercise 23-16The balance sheet data of Cheyenne Company at the end of 2017and 2016 are shown b...
(used/provided)

by investing activities.

$

Question: Exercise 23-16The balance sheet data of Cheyenne Company at the end of 2017and 2016 are shown b...

(c) Net Cash

Question: Exercise 23-16The balance sheet data of Cheyenne Company at the end of 2017and 2016 are shown b...
(used/provided)

by financing activities.

$

Question: Exercise 23-16The balance sheet data of Cheyenne Company at the end of 2017and 2016 are shown b...

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