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Peter Corporation reported the following transactions for 2013: 1. Sold equipment for a loss of $2,000. The original cost was $15,000; the book value is
Peter Corporation reported the following transactions for 2013: 1. Sold equipment for a loss of $2,000. The original cost was $15,000; the book value is $6,000 2. Issued 2,000 shares of $5 par value common stock for $12 per share 3. 4. 4567 6. 7. 8. 9. 10., Paid $3,000 for an Insurance policy which goes into effect in February 2014. The Prepaid Insurance account balance was $5,000 on 1/1/13 and $3,500 on 12/31/13 Reported Net Income of $12,000 on the Income Statement dated 12/31/13 Reacquired 300 shares of its own $5 par common stock at $20 per share Recorded depreciation expense for $5,000 Paid $3,000 of dividends to common stockholders Acquired a building with a market value of $250,000 by issuing 20,000 shares of common stock. Paid salaries of $18,000 Repaid a loan, which included $5,000 of the principal and $1,000 in interest The net cash flow from operating activities is: $34,000 O $37,000 $17,000 $10,000
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