Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of $400,000 was sold for $500,000. b. Additional common stock was issued for $160,000. c. Dristell purchased its own common stock as treasury stock at a cost of $75,000. d. Land was acquired by issuing a 6 %, 10-year, $750,000 note payable to the seller. e. A dividend of $40,000 was paid to shareholders. f. An investment in Fleet Corporation's common stock was made for $120,000. g. New equipment was purchased for $65,000. h. A $90,000 note payable issued three years ago was paid in full. i. A loan for $100,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months.
Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of $400,000 was sold for $500,000. b. Additional common stock was issued for $160,000. c. Dristell purchased its own common stock as treasury stock at a cost of $75,000. d. Land was acquired by issuing a 6 %, 10-year, $750,000 note payable to the seller. e. A dividend of $40,000 was paid to shareholders. f. An investment in Fleet Corporation's common stock was made for $120,000. g. New equipment was purchased for $65,000. h. A $90,000 note payable issued three years ago was paid in full. i. A loan for $100,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months.
Chapter18: Corporations: Organization And Capital Structure
Section: Chapter Questions
Problem 24CE
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Transcribed Image Text:DRISTELL INCORPORATED
Statement of Cash Flows (partial)
For the Year Ended December 31, 2024
Cash flows from financing activities:
Net cash flows from financing activities
$
Transcribed Image Text:Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise);
a. A building with a book value of $400,000 was sold for $500,000.
b. Additional common stock was issued for $160,000.
c. Dristell purchased its own common stock as treasury stock at a cost of $75,000.
d. Land was acquired by issuing a 6%, 10-year, $750,000 note payable to the seller.
e. A dividend of $40,000 was paid to shareholders.
f. An investment in Fleet Corporation's common stock was made for $120,000.
g. New equipment was purchased for $65,000.
h. A $90,000 note payable issued three years ago was paid in full.
1. A loan for $100,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest within
18 months.
Required:
Calculate net cash flows from investing activities. (Cash outflows should be indicated with a minus sign.)
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