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Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $300,000 of bonds, on which there was $4,000 of unamortized discount, for $303,000. b. Sold 40,000 shares of $6 par common stock for $18 per share. c. Sold equipment with a book value of $28,400 for $31,500. d. Purchased land for $290,000 cash. e. Purchased a building by paying $40,000 cash and issuing a $490,000 mortgage note payable. f. Sold a new issue of $600,000 of bonds at 98. g. Purchased 15,000 shares of $30 par common stock as treasury stock at $45 per share. h. Paid dividends of $1.50 per share. There were 800,000 shares issued and 90,000 shares of treasury stock. Effect Amount Cash receipt a. b. Cash receipt Cash receipt C. d. Cash payment е. Cash payment f. Cash receipt g. Cash payment h. Cash receipt

Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $300,000 of bonds, on which there was $4,000 of unamortized discount, for $303,000. b. Sold 40,000 shares of $6 par common stock for $18 per share. c. Sold equipment with a book value of $28,400 for $31,500. d. Purchased land for $290,000 cash. e. Purchased a building by paying $40,000 cash and issuing a $490,000 mortgage note payable. f. Sold a new issue of $600,000 of bonds at 98. g. Purchased 15,000 shares of $30 par common stock as treasury stock at $45 per share. h. Paid dividends of $1.50 per share. There were 800,000 shares issued and 90,000 shares of treasury stock. Effect Amount Cash receipt a. b. Cash receipt Cash receipt C. d. Cash payment е. Cash payment f. Cash receipt g. Cash payment h. Cash receipt

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $300,000 of bonds, on which there was $4,000 of unamortized discount, for $303,000. b. Sold 40,000 shares of $6 par common stock for $18 per share. c. Sold equipment with a book value of $28,400 for $31,500. d. Purchased land for $290,000 cash. e. Purchased a building by paying $40,000 cash and issuing a $490,000 mortgage note payable. f. Sold a new issue of $600,000 of bonds at 98. g. Purchased 15,000 shares of $30 par common stock as treasury stock at $45 per share. h. Paid dividends of $1.50 per share. There were 800,000 shares issued and 90,000 shares of treasury stock. Effect Amount a. Cash receipt b. Cash receipt C. Cash receipt d. Cash payment e. Cash payment f. Cash receipt g. Cash payment h. Cash receipt
Transcribed Image Text:Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Retired $300,000 of bonds, on which there was $4,000 of unamortized discount, for $303,000. b. Sold 40,000 shares of $6 par common stock for $18 per share. c. Sold equipment with a book value of $28,400 for $31,500. d. Purchased land for $290,000 cash. e. Purchased a building by paying $40,000 cash and issuing a $490,000 mortgage note payable. f. Sold a new issue of $600,000 of bonds at 98. g. Purchased 15,000 shares of $30 par common stock as treasury stock at $45 per share. h. Paid dividends of $1.50 per share. There were 800,000 shares issued and 90,000 shares of treasury stock. Effect Amount a. Cash receipt b. Cash receipt C. Cash receipt d. Cash payment e. Cash payment f. Cash receipt g. Cash payment h. Cash receipt
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