Starwood Hotels & Resorts Worldwide, Inc., is one of the worlds largest hotel and leisure companies. It
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Sheraton, Four Points, W, Aloft, The Luxury Collection, Le Meridien, Element, Westin, and St. Regis. * Information adapted from the company’s recent annual statement of cash flows indicates the following investing and financing activities during that year (simplified, in millions of dollars):
a. Additional borrowing from banks $ 47
b. Purchase of investments 8
c. Sale of assets and investments (assume sold at cost) 294
d. Issuance of stock 70
e. Purchase and renovation of properties 385
f. Payment of debt principal 650
g. Receipt of principal payment on a note receivable 5
Required:
For each of these indicate whether the activity is investing (I) or financing (F) and the direction of the effects on cash flows (+ for increases cash; - for decreases cash).
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Related Book For
Financial Accounting
ISBN: 978-0078025556
8th edition
Authors: Robert Libby, Patricia Libby, Daniel Short
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