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 $ 660,000 12,000 Net cash flows from operating activities 100,000 40,000 200,000 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. 18,000 120,000 440,000 30,000

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 $ 660,000 12,000 Net cash flows from operating activities 100,000 40,000 200,000 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. 18,000 120,000 440,000 30,000

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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