Burton Company purchased a new crane costing $47,000 from Heavy Equipment Corporation. To pay for the crane, Burton traded in an old piece of machinery worth $10,000 and took a note for the balance of $37,000. How will this transaction be reported on the statement of cash flows? As a use of cash in the operating section and a source of cash in the financing section. As a use of cash in the investing section and a source of cash in the financing section. As a source of cash in the investing section and a source of cash in the financing section. As a non-cash investing and financing transaction. On July 31st of the current year Bridges Industries borrowed $60,000 from the First National Bank. The $60,000 was used to pay dividends of $40,000 to stockholders and purchase a $20,000 piece of equipment. How will these transactions be reported in the statement of cash flows? Operating Section Investing Section Financing Section $0 $40,000 use/$20,000 use $60,000 source $40,000 use $20,000 use $60,000 source $0 $20,000 use $60,000 source/$ 40,000 use $40,000 use $20,000 use $60,000 source During the current year, ABC Corporation did not purchase any property, plant and equipment, but sold land with a book value of $6,000 for $12,000 cash and sold a delivery truck with a cost of $18,000, depreciation of $16,000, and an appraised value of $5,000 for $4,000. What is ABC's net cash flows provided by investing activities for the year? $16,000 $24,000 $8,000 $11,000 When a company sells equipment for cash, which of the following amounts is reported in the investing section of the statement of cash flows? Amount of cash received Book value Gain on sale of equipment Depreciation expense A company's unearned revenue account increased by $1,000 during the year. Which of the following would appear on the statement of cash flows prepared using the indirect method? A deduction under operating activities An addition under financing activities A deduction under financing activities An addition under operating activities A company's prepaid insurance account decreased by $1,000 during the year. Which of the following would appear on the statement of cash flows prepared using the indirect method? A deduction under investing activities An addition under operating activities A deduction under operating activities An addition under investing activities