Data for XOC for 2013 Were as Follows

question 11

Essay

Data for XOC for 2013 were as follows:
(a) On December 31, 2013, sold a capital asset with a carrying value of $5,000 for $2,000 cash.
(b) Depreciation expense for 2001, $4,000.
(c) Sold 500 common shares at $10 cash per share.
(d) Paid $1,000 on a long-term note payable.
(e) Sold a long term investment costing $400 for $500 cash.
(f) Inventory increased $2,500.
(g) Amortized $30 of patent costs.
(h) Net income, $23,000.
Required:
1. What was net cash inflow (outflow) from investing activities for 2013? Show computations.
2. What was net cash inflow (outflow) from financing activities for 2013? Show computations.

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Definitions:

Cash Budget

A forecast of cash inflows and outflows over a specific period, used for cash management.

Cash Receipts

The collection of money, typically in the form of cash or checks, by a business from its customers for goods or services provided.

Cash Disbursements

Outflows of cash for expenses, purchase of assets, or repayment of debt by a business within a given period.

Manufacturing Overhead Budget

A financial plan that estimates the expected costs related to manufacturing overhead for a specific period.