Answered step by step
Verified Expert Solution
Question
1 Approved Answer
For the following events which occurred in 2021, please show how (positive or negative and how much with the description of the event) and where
For the following events which occurred in 2021, please show how (positive or negative and how much with the description of the event) and where they will be reported on the skeleton outline of the cash flow statement at the bottom of this page: 1. Sold land for $120,000 in cash. The land cost $140,000 2. Accounts Receivable decreased by $35,000 during the year 3. Purchased stock in another company for $50,000 in cash and plan to keep the shares more than one year 4. Sold 4,000 shares of our own $10 par common stock for $32 per share in cash. 5. Loaned $200,000 in cash to another company 6. Paid $27.000 of Cash Dividends 7. Purchased equipment for $30,000 and issued a 5-year, 8% note as payment. Homework Company Statement of Cash Flows For the Year Ended December 31, 2021 Cash Flow from Operating Activities Net Income Non-Cash Expenses Changes in Current Accounts Gains or Losses Net Cash Flow from Operating Activities Cash Flow from Investing Activities Inflows Outflows Net Cash Flow from Investing Activities Cash Flow from Financing Activities Inflows Outflows Net Cash Flow from Financing Activities Total Cash Flow Beginning Cash Balance Ending Cash Balance Other Investing and Financing Transactions not affecting Cash
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started