Assuming the company reports under ASPE and all dividends have been paid, prepare the financing activities section of the cash flow statement. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Wildhorse Select Corporation Cash Flow Statement (Partial) For the Year Ended December 31, 2024 Financing Activities Sale of Common Shares Repayment of Mortgage Notes Payable Payment of Cash Dividends Net Cash Used by Financing Activities Note X: During the year, the company acquired a building with a cost of $ by paying $ cash and incurring a mortgage note payable of $ Selected information follows for Wildhorse Select Corporation at December 31: 2024 2023 Bonds payable $1,014,900 $1,014,900 Mortgage notes payable 484,500 204,000 Common shares 56,100 45,900 Retained earnings 168,300 86,700 Additional information: 1. Principal payments on the mortgage payable were $25,500. 2. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. 3. Profit for the year was $147,900.

Assuming the company reports under ASPE and all dividends have been paid, prepare the financing activities section of the cash flow statement. (Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g. (15,000).) Wildhorse Select Corporation Cash Flow Statement (Partial) For the Year Ended December 31, 2024 Financing Activities Sale of Common Shares Repayment of Mortgage Notes Payable Payment of Cash Dividends Net Cash Used by Financing Activities Note X: During the year, the company acquired a building with a cost of $ by paying $ cash and incurring a mortgage note payable of $ Selected information follows for Wildhorse Select Corporation at December 31: 2024 2023 Bonds payable $1,014,900 $1,014,900 Mortgage notes payable 484,500 204,000 Common shares 56,100 45,900 Retained earnings 168,300 86,700 Additional information: 1. Principal payments on the mortgage payable were $25,500. 2. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. 3. Profit for the year was $147,900.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 14MC: Whirlie Inc. issued $300,000 face value, 10% paid annually, 10-year bonds for $319,251 when the...

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