The following are summary cash transactions that occurred during the (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for: Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $ 810,000 27,000 250,000 Cash flows from operating activities: Cash received from customers Collection of note receivable 55,000 350,000 33,000 195,000 515,000 45,000 Prepare the cash flows from operating activities section of HHC's stater method. Note: Amounts to be deducted should be indicated with a minus sign
The following are summary cash transactions that occurred during the (HHC): Cash received from: Customers Interest on notes receivable Collection of notes receivable Sale of land Issuance of common stock Cash paid for: Interest on notes payable Purchase of equipment Operating expenses Dividends to shareholders $ 810,000 27,000 250,000 Cash flows from operating activities: Cash received from customers Collection of note receivable 55,000 350,000 33,000 195,000 515,000 45,000 Prepare the cash flows from operating activities section of HHC's stater method. Note: Amounts to be deducted should be indicated with a minus sign
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![The following are summary cash transactions that occurred during the year for Hope Healthcare Company
(HHC):
Cash received from:
Customers
Interest on notes receivable
Collection of notes receivable
Sale of land
Issuance of common stock
Cash paid for:
Interest on notes payable
Purchase of equipment
Operating expenses
Dividends to shareholders
Cash flows from operating activities:
Cash received from customers
Collection of note receivable
Cash paid for operating expenses
$ 810,000
27,000
250,000
Net cash flows from operating activities
55,000
350,000
Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct
method.
Note: Amounts to be deducted should be indicated with a minus sign.
33,000
195,000
515,000
45,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F28cefb81-7cf9-48e6-bd36-6891739f4821%2Ffbb29b00-2563-45c8-8c40-d993e27e0cbc%2Fgfc5z6q_processed.png&w=3840&q=75)
Transcribed Image Text:The following are summary cash transactions that occurred during the year for Hope Healthcare Company
(HHC):
Cash received from:
Customers
Interest on notes receivable
Collection of notes receivable
Sale of land
Issuance of common stock
Cash paid for:
Interest on notes payable
Purchase of equipment
Operating expenses
Dividends to shareholders
Cash flows from operating activities:
Cash received from customers
Collection of note receivable
Cash paid for operating expenses
$ 810,000
27,000
250,000
Net cash flows from operating activities
55,000
350,000
Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct
method.
Note: Amounts to be deducted should be indicated with a minus sign.
33,000
195,000
515,000
45,000
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