State the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following transactions: Note: Only consider the cash component of each transaction. Use the minus sign to indicate amounts that are cash out flows, cash payments, decreases in cash, or any negative adjustments. If your answer is not reported in an amount box does not require an entry, leave it blank or enter "0". a. Received $120,000 from the sale of land costing $70,000. Investing activities $fill in the blank 2 Operating activities $fill in the blank 4 b. Purchased investments for $75,000. Investing activities $fill in the blank 6 c. Declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginning of the year, and $6,000 were payable at the end of the year. Financing activities $fill in the blank 8 d. Acquired equipment for $64,000 cash. Investing activities $fill in the blank 10 e. Declared and issued 100 shares of $20 par common stock as a stock dividend, when the market price of the stock was $32 a share. Not reported $fill in the blank 12 f. Recognized depreciation for the year, $37,000. Operating activities $fill in the blank 14 g. Issued 85,000 shares of $10 par common stock for $25 a share, receiving cash. Financing activities $fill in the blank 16 h. Issued $500,000 of 20-year, 10% bonds payable at 99. Financing activities $fill in the blank 18 i. Borrowed $43,000 from Regional Bank, issuing a 5-year, 8% note for that amount. Financing activities $fill in the blank 20

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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State the section(s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following transactions:

Note: Only consider the cash component of each transaction. Use the minus sign to indicate amounts that are cash out flows, cash payments, decreases in cash, or any negative adjustments.

If your answer is not reported in an amount box does not require an entry, leave it blank or enter "0".

a.	Received $120,000 from the sale of land costing $70,000.	Investing activities	$fill in the blank 2
		Operating activities	$fill in the blank 4
b.	Purchased investments for $75,000.	Investing activities	$fill in the blank 6
c.	Declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginning of the year, and $6,000 were payable at the end of the year.	Financing activities	$fill in the blank 8
d.	Acquired equipment for $64,000 cash.	Investing activities	$fill in the blank 10
e.	Declared and issued 100 shares of $20 par common stock as a stock dividend, when the market price of the stock was $32 a share.	Not reported	$fill in the blank 12
f.	Recognized depreciation for the year, $37,000.	Operating activities	$fill in the blank 14
g.	Issued 85,000 shares of $10 par common stock for $25 a share, receiving cash.	Financing activities	$fill in the blank 16
h.	Issued $500,000 of 20-year, 10% bonds payable at 99.	Financing activities	$fill in the blank 18
i.	Borrowed $43,000 from Regional Bank, issuing a 5-year, 8% note for that amount.	Financing activities	$fill in the blank 20

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