I need to figure out cash flow from financial activities for 2017 Dec 18 2017 : Borrowed $60,000 from First American Bank and Trust by issuing a two-year note payable with a stated annual interest rate of 5%. Check No. 545 for $60,000 was received from the bank and deposited. Dec 29 2017: Issued check to First American Bank and Trust for $9,000 for partial payment on the bank note , which included no payment for interest. The terms on the back of the bank note stipulate that prepayments can be made without early payment penalty. For purposes of the year-end adjusting entry for accrued interest that you will be making later, assume that this payment wasn't received by the bank until Jan.2, 2018. Dec 29 2017: Loaned $5,000 to Maple Valley Electric by issuing a 4-year note receivable with a stated annual interest rate of 6% . The funds were loaned by issuing a check . Interest payments of $300 are due on December 31 of each year, beginning in 2018. The entire principal is due four years from December 31, 2017. Dec 29 2017: The Board of Directors declared a $2.25 per share dividend on the 3000 shares of $75 par value common stock outstanding. The dividends will be payable on January 31, 2018, to all stockholders of record as of January 25, 2018
I need to figure out
Dec 18 2017 : Borrowed $60,000 from First American Bank and Trust by issuing a two-year note payable with a stated annual interest rate of 5%. Check No. 545 for $60,000 was received from the bank and deposited.
Dec 29 2017: Issued check to First American Bank and Trust for $9,000 for partial payment on the bank note , which included no payment for interest. The terms on the back of the bank note stipulate that prepayments can be made without early payment penalty. For purposes of the year-end
Dec 29 2017: Loaned $5,000 to Maple Valley Electric by issuing a 4-year note receivable with a stated annual interest rate of 6% . The funds were loaned by issuing a check . Interest payments of $300 are due on December 31 of each year, beginning in 2018. The entire principal is due four years from December 31, 2017.
Dec 29 2017: The Board of Directors declared a $2.25 per share dividend on the 3000 shares of $75 par value common stock outstanding. The dividends will be payable on January 31, 2018, to all stockholders of record as of January 25, 2018
Could you, please, help me?
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