DeRozen Company purchases 1,000 common shares (40%) of Tours…

DeRozen Company purchases 1,000 common shares (40%) of Tours of Toronto Incorporated as a long-term investment for $100,000 cash on July 1. Tours of Toronto paid $15,000 in total cash dividends on November 1 and reported net income of $150,000 for the year ended December 31. Prepare DeRozen’s journal entry to record the receipt of its share of Tours of Toronto’s November 1 dividends.

A company’s income statement showed the following: net incom…

A company’s income statement showed the following: net income, $128,000; depreciation expense, $37,000; and gain on sale of plant assets, $11,000. The company’s current assets and current liabilities showed the following changes: accounts receivable decreased $10,800; merchandise inventory increased $25,000; prepaid expenses increased $7,600; accounts payable increased $4,800. Calculate the net cash provided or used by operating activities.