Selected information follows for Wildhorse Select Corporation at December 31: Bonds payable Mortgage notes payable Common shares Retained earnings Additional information: 1. 2. 3. 2024 $1,014,900 484,500 56,100 168,300 2023 $1,014,900 204,000 45,900 86,700 Principal payments on the mortgage payable were $25,500. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. 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 fl 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
Selected information follows for Wildhorse Select Corporation at December 31: Bonds payable Mortgage notes payable Common shares Retained earnings Additional information: 1. 2. 3. 2024 $1,014,900 484,500 56,100 168,300 2023 $1,014,900 204,000 45,900 86,700 Principal payments on the mortgage payable were $25,500. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. 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 fl 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
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 2TP: Below is select information from two, independent companies. Additional information includes: On...
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![Selected information follows for Wildhorse Select Corporation at December 31:
Bonds payable
Mortgage notes payable
Common shares
Retained earnings
Additional information:
1.
2.
3.
Financing Activities
Increase in Mortgage Payable
Issuance of Bonds Payable
2024
Payment of Cash Dividends
$1,014,900
484,500
56,100
eTextbook and Media
168,300
Principal payments on the mortgage payable were $25,500.
A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance.
Profit for the year was $147,900.
2023
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).)
$1,014,900
Net Cash Used by Investing Activities
204,000
45,900
86,700
Wildhorse Select Corporation
Cash Flow Statement (Partial)
For the Year Ended December 31, 2024
Note X: During the year, the company acquired a building with a cost of $
cash and incurring a mortgage note payable of $
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Transcribed Image Text:Selected information follows for Wildhorse Select Corporation at December 31:
Bonds payable
Mortgage notes payable
Common shares
Retained earnings
Additional information:
1.
2.
3.
Financing Activities
Increase in Mortgage Payable
Issuance of Bonds Payable
2024
Payment of Cash Dividends
$1,014,900
484,500
56,100
eTextbook and Media
168,300
Principal payments on the mortgage payable were $25,500.
A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance.
Profit for the year was $147,900.
2023
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).)
$1,014,900
Net Cash Used by Investing Activities
204,000
45,900
86,700
Wildhorse Select Corporation
Cash Flow Statement (Partial)
For the Year Ended December 31, 2024
Note X: During the year, the company acquired a building with a cost of $
cash and incurring a mortgage note payable of $
Save for Later Last saved 43 minutes ago.
Saved work will be auto-submitted on the due date. Auto-
submission can take up to 10 minutes.
by paying $
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