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Below is a list of independent transactions. For each transaction, identify which section of the statement of cash flows it is to be reported and indicate if it is a cash in-flow (a positive number) or cash out-flow (negative number). (Hint: recall the use of the accounting equation A=L+E to help determine if an amount is a positive or negative number.)  Description  Section  Amount  Issue of bonds payable of $500 cash      Sale of land and building of $60,000 cash      Retirement of bonds payable of $20,000 cash      Current portion of long-term debt changed from $56,000 to $50,000      Repurchase of company's own shares of $120,000 cash      Issuance of common shares of $80,000 cash      Payment of cash dividend of $25,000 recorded to retained earnings      Purchase of land of $60,000 cash and a $100,000 note      Cash dividends received from a trading investment of $5,000      Interest income received in cash from an investment of $2,000      Interest and finance charges paid of $15,000      Purchase of equipment for $32,000      Increase in accounts receivable of $75,000      Decrease in a short-term note payable of $10,000      Increase in income taxes payable of $3,000      Purchase of equipment in exchange for a $14,000 long-term note

Below is a list of independent transactions. For each transaction, identify which section of the statement of cash flows it is to be reported and indicate if it is a cash in-flow (a positive number) or cash out-flow (negative number). (Hint: recall the use of the accounting equation A=L+E to help determine if an amount is a positive or negative number.)  Description  Section  Amount  Issue of bonds payable of $500 cash      Sale of land and building of $60,000 cash      Retirement of bonds payable of $20,000 cash      Current portion of long-term debt changed from $56,000 to $50,000      Repurchase of company's own shares of $120,000 cash      Issuance of common shares of $80,000 cash      Payment of cash dividend of $25,000 recorded to retained earnings      Purchase of land of $60,000 cash and a $100,000 note      Cash dividends received from a trading investment of $5,000      Interest income received in cash from an investment of $2,000      Interest and finance charges paid of $15,000      Purchase of equipment for $32,000      Increase in accounts receivable of $75,000      Decrease in a short-term note payable of $10,000      Increase in income taxes payable of $3,000      Purchase of equipment in exchange for a $14,000 long-term note

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Below is a list of independent transactions. For each transaction, identify which section of the statement of cash flows it is to be reported and indicate if it is a cash in-flow (a positive number) or cash out-flow (negative number). (Hint: recall the use of the accounting equation A=L+E to help determine if an amount is a positive or negative number.) 

Description 

Section 

Amount 

Issue of bonds payable of $500 cash 

    

Sale of land and building of $60,000 cash 

    

Retirement of bonds payable of $20,000 cash 

    

Current portion of long-term debt changed from $56,000 to $50,000 

    

Repurchase of company's own shares of $120,000 cash 

    

Issuance of common shares of $80,000 cash 

    

Payment of cash dividend of $25,000 recorded to retained earnings 

    

Purchase of land of $60,000 cash and a $100,000 note 

    

Cash dividends received from a trading investment of $5,000 

    

Interest income received in cash from an investment of $2,000 

    

Interest and finance charges paid of $15,000 

    

Purchase of equipment for $32,000 

    

Increase in accounts receivable of $75,000 

    

Decrease in a short-term note payable of $10,000 

    

Increase in income taxes payable of $3,000 

    

Purchase of equipment in exchange for a $14,000 long-term note 

    

 

### Financial Transaction Overview **Table: Detailed Financial Transactions** | **Description** | **Section** | **Amount** | |------------------------------------------------------------------------------------|-------------|------------| | Issue of bonds payable of $500 cash | | | | Sale of land and building of $60,000 cash | | | | Retirement of bonds payable of $20,000 cash | | | | Current portion of long-term debt changed from $56,000 to $50,000 | | | | Repurchase of company's own shares of $120,000 cash | | | | Issuance of common shares of $80,000 cash | | | | Payment of cash dividend of $25,000 recorded to retained earnings | | | | Purchase of land of $60,000 cash and a $100,000 note | | | | Cash dividends received from a trading investment of $5,000 | | | | Interest income received in cash from an investment of $2,000 | | | | Interest and finance charges paid of $15,000 | | | | Purchase of equipment for $32,000 | | | | Increase in accounts receivable of $75,000 | | | | Decrease in a short-term note payable of $10,000 | | | | Increase in income taxes payable of $3,000 | | | | Purchase of equipment in exchange for a $14,000 long-term note | | | This table records various financial transactions that include the issuance and retirement of bonds, repurchase and issuance of shares, purchase of land and equipment, and changes in accounts receivable and payable. Each entry provides a description, and placeholders for the relevant financial section and amount involved. For educational purposes, understanding this table helps in grasping how companies manage and record their financial activities to maintain accurate accounting records.
Transcribed Image Text:### Financial Transaction Overview **Table: Detailed Financial Transactions** | **Description** | **Section** | **Amount** | |------------------------------------------------------------------------------------|-------------|------------| | Issue of bonds payable of $500 cash | | | | Sale of land and building of $60,000 cash | | | | Retirement of bonds payable of $20,000 cash | | | | Current portion of long-term debt changed from $56,000 to $50,000 | | | | Repurchase of company's own shares of $120,000 cash | | | | Issuance of common shares of $80,000 cash | | | | Payment of cash dividend of $25,000 recorded to retained earnings | | | | Purchase of land of $60,000 cash and a $100,000 note | | | | Cash dividends received from a trading investment of $5,000 | | | | Interest income received in cash from an investment of $2,000 | | | | Interest and finance charges paid of $15,000 | | | | Purchase of equipment for $32,000 | | | | Increase in accounts receivable of $75,000 | | | | Decrease in a short-term note payable of $10,000 | | | | Increase in income taxes payable of $3,000 | | | | Purchase of equipment in exchange for a $14,000 long-term note | | | This table records various financial transactions that include the issuance and retirement of bonds, repurchase and issuance of shares, purchase of land and equipment, and changes in accounts receivable and payable. Each entry provides a description, and placeholders for the relevant financial section and amount involved. For educational purposes, understanding this table helps in grasping how companies manage and record their financial activities to maintain accurate accounting records.
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