The following transactions and events occurred by Smiley Enterprise during year 2019. Assuming that the company uses indirect method to report cash provided by operating activities. 1. Accepted six-month note receivable in exchange for property, plant and equipment. 2. Accounts receivable decreased in the year. 3. Paid cash to settle long-term note payable. 4. Declared and paid a cash dividend. 5. Paid cash to purchase a new office computer. 6. Recorded depreciation expense. 7. Purchase land by issuing ordinary shares. 8. Prepaid expenses increased in the year. 9. Exchange the bond payable into common shares. 10. Sold equipment for cash, yielding a loss. 11. Accounts payable decreased in the year. 12. Sold long-term investments for cash. 13. Issued ordinary shares for cash.

The following transactions and events occurred by Smiley Enterprise during year 2019. Assuming that the company uses indirect method to report cash provided by operating activities. 1. Accepted six-month note receivable in exchange for property, plant and equipment. 2. Accounts receivable decreased in the year. 3. Paid cash to settle long-term note payable. 4. Declared and paid a cash dividend. 5. Paid cash to purchase a new office computer. 6. Recorded depreciation expense. 7. Purchase land by issuing ordinary shares. 8. Prepaid expenses increased in the year. 9. Exchange the bond payable into common shares. 10. Sold equipment for cash, yielding a loss. 11. Accounts payable decreased in the year. 12. Sold long-term investments for cash. 13. Issued ordinary shares for cash.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 43E: Determining Cash Flows from Financing Activities Solomon Construction Company reported the following...

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