During the month of December, Westcoast Industries had the following transactions: 1. Sales of $210,000 were made, with $180,000 received in cash and $30,000 on credit. 2. Long-term bonds worth $75,000 were issued. 3. A building was purchased for $120,000 cash. 4. Operating expenses of $95,000 were paid in cash. 5. Dividends of $25,000 were paid to shareholders. 6. A short-term loan of $40,000 was repaid. A statement of cash flows for December would report net cash flows from financing activities of: a. $10,000 b. $50,000 c. $35,000 d. $75,000

During the month of December, Westcoast Industries had the following transactions: 1. Sales of $210,000 were made, with $180,000 received in cash and $30,000 on credit. 2. Long-term bonds worth $75,000 were issued. 3. A building was purchased for $120,000 cash. 4. Operating expenses of $95,000 were paid in cash. 5. Dividends of $25,000 were paid to shareholders. 6. A short-term loan of $40,000 was repaid. A statement of cash flows for December would report net cash flows from financing activities of: a. $10,000 b. $50,000 c. $35,000 d. $75,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 10RE: On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to...

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