Repaid a long-term note payable for $50,000 cash. Long-term available-for-sale investments costing $75,000 were sold for $89,000 cash. • A building costing $202,000 was purchased using $29,000 cash, and the balance was financed with a mortgage note payable. Stock was issued to stockholders in exchange for $112,000 cash. Machinery with a book value of $34,000 was sold at a loss of $7,000. • Cash dividend payments were $20,000. Issued $100,000 par value bonds payable at 104. • Land costing $57,000 was purchased in exchange for a long-term note payable. • Paid annual interest of $5,000 on bonds payable. Determine- on's Cash flows to be reported on the statement of cash flows for 1. Investing activities: 2. Financing activities:
Repaid a long-term note payable for $50,000 cash. Long-term available-for-sale investments costing $75,000 were sold for $89,000 cash. • A building costing $202,000 was purchased using $29,000 cash, and the balance was financed with a mortgage note payable. Stock was issued to stockholders in exchange for $112,000 cash. Machinery with a book value of $34,000 was sold at a loss of $7,000. • Cash dividend payments were $20,000. Issued $100,000 par value bonds payable at 104. • Land costing $57,000 was purchased in exchange for a long-term note payable. • Paid annual interest of $5,000 on bonds payable. Determine- on's Cash flows to be reported on the statement of cash flows for 1. Investing activities: 2. Financing activities:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:• Repaid a long-term note payable for $50,000 cash.
Long-term available-for-sale investments costing $75,000 were sold for $89,000 cash.
• A building costing $202,000 was purchased using $29,000 cash, and the balance was financed
with a mortgage note payable.
• Stock was issued to stockholders in exchange for $112,000 cash.
Machinery with a book value of $34,000 was sold at a loss of $7,000.
Cash dividend payments were $20,000.
• Issued $100,000 par value bonds payable at 104.
• Land costing $57,000 was purchased in exchange for a long-term note payable.
• Paid annual interest of $5,000 on bonds payable.
Determine-ton's cash flows to be reported on the statement of cash flows for
1. Investing activities:
2. Financing activities:
Be sure to indicate in parentheses () if the amount is negative/a deduction.
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