Classify each cash flow activity (Operating, Investing, Financing, or Non-cash). Then, prepare the Statement of Cash Flows for the year ended December 31, 2019. Talent Fees receivables from clients 500,000 Cash receipt from clients 600,000 . Depreciation expense 40,000 Proceeds of Japan bank loan 350,000 Cash purchase of building 800,000 Provision for doubtful accounts 28,000 Additional Investment of Lena 900,000 Dividends income received 23,000 Rent Income received 32,000 Payment of operating expenses 975,000 Principal long-term loan paid 600,000 Asset withdrawal of owner 125,000 Proceeds from sale of land 950,000
Classify each cash flow activity (Operating, Investing, Financing, or Non-cash). Then, prepare the Statement of Cash Flows for the year ended December 31, 2019. Talent Fees receivables from clients 500,000 Cash receipt from clients 600,000 . Depreciation expense 40,000 Proceeds of Japan bank loan 350,000 Cash purchase of building 800,000 Provision for doubtful accounts 28,000 Additional Investment of Lena 900,000 Dividends income received 23,000 Rent Income received 32,000 Payment of operating expenses 975,000 Principal long-term loan paid 600,000 Asset withdrawal of owner 125,000 Proceeds from sale of land 950,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Direction: Classify each cash flow activity (Operating, Investing, Financing, or Non-cash). Then, prepare the Statement of
| Talent Fees receivables from clients |
500,000 |
|
| Cash receipt from clients | 600,000 | . |
| Depreciation expense | 40,000 | |
| Proceeds of Japan bank loan | 350,000 | |
| Cash purchase of building | 800,000 | |
| Provision for doubtful accounts | 28,000 | |
| Additional Investment of Lena | 900,000 | |
| Dividends income received | 23,000 | |
| Rent Income received | 32,000 | |
| Payment of operating expenses | 975,000 | |
| Principal long-term loan paid | 600,000 | |
| Asset withdrawal of owner | 125,000 | |
| Proceeds from sale of land | 950,000 |
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