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Sunland Inc, is a private company reporting under ASPE. The following selected account balances were reported in Sunland Inci's financial statements at year end: Additional
Sunland Inc, is a private company reporting under ASPE. The following selected account balances were reported in Sunland Inci's financial statements at year end: Additional information: 1. Purchased $70,500 of equipment for $9.400 cash and a note payable for the remainder. 2. Equipment was also sold during the year. 3. Sold a building that originally cost $47,000. 4. Used cash to purchase land and a building. 5. Mortgage payments and notes payable payments included interest and principal amounts. 6. Common shares were issued for cash. Determine the amount of any cash inflows or outflows related to investing activities in 2024. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with elther a-sign eg, 15,000 or in parenthesis eg. (15,000).) What was the amount of profit reported by Sunland inc. in 2024 ? Amount of profit Question Part Score /3 Determine the amount of any cash inflows or outflows related to financing activities in 2024. (Hint:-Use T accounts to calculate the cash flows) (Show omounts that decrease cash flow with cither a - sign es:-15,000 or in parenthesis es. (15,000).) Identify and determine the amount of any noncash financing activities in 2024 . Sunland Inc, is a private company reporting under ASPE. The following selected account balances were reported in Sunland Inci's financial statements at year end: Additional information: 1. Purchased $70,500 of equipment for $9.400 cash and a note payable for the remainder. 2. Equipment was also sold during the year. 3. Sold a building that originally cost $47,000. 4. Used cash to purchase land and a building. 5. Mortgage payments and notes payable payments included interest and principal amounts. 6. Common shares were issued for cash. Determine the amount of any cash inflows or outflows related to investing activities in 2024. (Hint: Use T accounts to calculate the cash flows.) (Show amounts that decrease cash flow with elther a-sign eg, 15,000 or in parenthesis eg. (15,000).) What was the amount of profit reported by Sunland inc. in 2024 ? Amount of profit Question Part Score /3 Determine the amount of any cash inflows or outflows related to financing activities in 2024. (Hint:-Use T accounts to calculate the cash flows) (Show omounts that decrease cash flow with cither a - sign es:-15,000 or in parenthesis es. (15,000).) Identify and determine the amount of any noncash financing activities in 2024
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