he following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for: Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $710,000 17,000 150,000 45,000 250,000 Cash flows from operating activities: 23,000 145,000 465,000 35,000 Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct methe deducted should be indicated with a minus sign.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC):
Cash received from:
Customers
Interest on notes receivable
Collection of notes receivable
Sale of land
Issuance of common stock
Cash paid for:
Interest on notes payable
Purchase of equipment
Operating expenses
Dividends to shareholders
Cash flows from operating activities:
$710,000
17,000
150,000
45,000
250,000
Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct method. (A
deducted should be indicated with a minus sign.)
Net cash flows from operating activities
23,000
145,000
465,000
35,000
2
Transcribed Image Text:The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for: Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders Cash flows from operating activities: $710,000 17,000 150,000 45,000 250,000 Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct method. (A deducted should be indicated with a minus sign.) Net cash flows from operating activities 23,000 145,000 465,000 35,000 2
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