Indicate the effect, if any, that each separate transaction has on financing cash flows. Note: Select "No Effect" if there is no effect. a. Long-term notes payable with a carrying value of $15,000 are retired for $16,000 cash, resulting in a $1,000 loss. b. Paid cash dividends of $11,000 to common stockholders. c. Acquired $20,000 worth of machinery in exchange for common stock. Items a. Long-term notes payable b. Dividends c. Machinery Amount Effect on financing cash flows

Indicate the effect, if any, that each separate transaction has on financing cash flows. Note: Select "No Effect" if there is no effect. a. Long-term notes payable with a carrying value of $15,000 are retired for $16,000 cash, resulting in a $1,000 loss. b. Paid cash dividends of $11,000 to common stockholders. c. Acquired $20,000 worth of machinery in exchange for common stock. Items a. Long-term notes payable b. Dividends c. Machinery Amount Effect on financing cash flows

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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