1) On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows:

ACCOUNT Land									ACCOUNT NO.
									Balance
Date			Item		Debit		Credit		Debit		Credit
Jan.	1			Balance					1,050,000
Mar.	12			Purchased for cash	326,000				1,376,000
Oct.	4			Sold for $179,000			153,000		1,223,000

Item	Section of Statement of Cash Flows	Added or Deducted	Amount
Mar. 12: Purchase of fixed asset	Investing activities section	Deducted	$
Oct. 4: Sale of fixed asset	Investing activities section	Added	$
Gain on sale of fixed asset (assume the indirect method)	Operating activities section	Deducted	$

2) On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year.

ACCOUNT Common Stock, $20 par

ACCOUNT NO.

Balance

Date

Item

Debit

Credit

Debit

Credit

Jan.

1

Balance, 45,000 shares

900,000

Apr.

2

11,250 shares issued for cash

225,000

1,125,000

June

30

2,000-share stock dividend

40,000

1,165,000

ACCOUNT Paid-In Capital in Excess of Par-Common Stock

ACCOUNT NO.

Balance

Date

Item

Debit

Credit

Debit

Credit

Jan.

1

Balance

90,000

Apr.

2

11,250 shares issued for cash

348,750

438,750

June

30

Stock dividend

30,000

468,750

ACCOUNT Retained Earnings

ACCOUNT NO.

Balance

Date

Item

Debit

Credit

Debit

Credit

Jan.

1

Balance

747,000

June

30

Stock dividend

70,000

677,000

Dec.

30

Cash dividend

85,900

591,100

Dec.

31

Net income

537,800

1,128,900

If an amount is not reported on the statement of cash flows, enter in "0" in the Amount column.

Item	Section of Statement of Cash Flows	Added or Deducted	Amount
Sale of common stock	Financing activities section	Added	$
Cash dividend	Financing activities section	Deducted	$
Stock dividend	Not reported on statement of cash flows	Not applicable	$

3) On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the Financing Activities section of the statement of cash flows, assuming no gain or loss on retiring the bonds:

ACCOUNT Bonds Payable

ACCOUNT NO.

Balance

Date

Item

Debit

Credit

Debit

Credit

Jan.

1

Balance

550,000

Jan.

2

Retire bonds

110,000

440,000

June

30

Issue bonds

330,000

770,000

ACCOUNT Discount on Bond Payable

ACCOUNT NO.

Balance

Date

Item

Debit

Credit

Debit

Credit

Jan.

1

Balance

24,750

Jan.

2

Retire bonds

8,800

15,950

June

30

Issue bonds

22,100

38,050

Dec.

31

Amortize discount

1,900

36,150

Item	Section of Statement of Cash Flows	Added or Deducted	Amount
Retire bonds	Financing activities section	Deducted	$
Issue bonds	Financing activities section	Added	$
Amortization of discount	Operating activities section, if indirect method used	Added	$