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Show Attempt History Current Attempt in Progress The following selected accounts are from Pharoah Corp's general ledger: Land Jan. 1 Bal. 530,000 Dec. 31 6,500
Show Attempt History Current Attempt in Progress The following selected accounts are from Pharoah Corp's general ledger: Land Jan. 1 Bal. 530,000 Dec. 31 6,500 Dec. 31 Bal. 536,500 Equipment Jan. 1 Bal. 165,000 July 31 79,000 Sept. 2 36,000 58,000 Nov. 10 Dec. 31 Bal. 266,000 Accumulated Depreciation-Equipment NOVI 30,000 Dec. 31 Bal. 266,000 Accumulated Depreciation-Equipment Jan. 1 Bal. 71,000 Nov. 10 30,000 Dec. 31 45,000 Dec. 31 Bal. 86,000 Dividends Payable Jan. 1 Bal. 1,200 Dec. 23 4,700 Dec. 31 Bal. 5,900 Bank Loan Payable Jan. 1 Bal. Sept. 2 50,000 Dec. 31 Bal. 50,000 Dec. 31 Bal. 50,000 Retained Earnings Jan. 1 Bal. 150,000 Dec. 23 4,700 Dec. 31 61,000 Dec. 31 Bal. 206,300 Additional information: July 31 Equipment with a cost of $79,000 was purchased for cash. Sept. 2 Equipment with a cost of $58,000 was purchased and partially financed through the issue of a long-term bar payable received specifically for the purchase of this equipment. Nov. 10 A loss of $3,700 was incurred on the disposal of equipment. Dec. 1 Acquired a small parcel of adjoining land. 23 A $4.700 cash dividend was declared to shareholders of record on December 31, payable on January 10. payable received specifically for the purchase of this equipment. Nov. 10 A loss of $3,700 was incurred on the disposal of equipment. Dec. 1 Acquired a small parcel of adjoining land. 23 A $4,700 cash dividend was declared to shareholders of record on December 31, payable on January 10. 31 Depreciation expense of $45,000 was recorded for the year. 31 Net income for the year was $61,000. From the postings in the above accounts and additional information provided, indicate what information would be reported in th investing and/or financing activities sections of, and notes to, the statement of cash flows. (Show amounts that decrease cash flow either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).) PHAROAH CORP. Statement of Cash Flows (Partial) Year Ended December 31 From the postings in the above accounts and additional information provided, indicate what information would be reported in the investing and/or financing activities sections of, and notes to, the statement of cash flows. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000).) PHAROAH CORP. Statement of Cash Flows (Partial) Year Ended December 31 Investing activities $ >
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