The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC): Cash received from:Customers $660,000Interest on notes receivable 12,000Collection of notes receivable 100,000Sale of land 40,000Issuance of common stock 200,000Cash paid for:Interest on notes payable 18,000Purchase of equipment 120,000Operating expenses 440,000Dividends to shareholders 30,000 Prepare the cash flows from operating activities section of HHC’s statement of cash flows using the direct method.
The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC):
Cash received from:
Customers $660,000
Interest on notes receivable 12,000
Collection of notes receivable 100,000
Sale of land 40,000
Issuance of common stock 200,000
Cash paid for:
Interest on notes payable 18,000
Purchase of equipment 120,000
Operating expenses 440,000
Dividends to shareholders 30,000
Prepare the
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