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The bonds payable account of Rundell Inc. decreased by $50,000, as follows: Account Bonds Payable Account No. Balance Debit Credit Debit Credit Date Item 2048 Jan. 1 Balance June 1 Retired by payment of cash at face amount 150,000 100,000 50,000 This decrease is from retiring the bonds by a cash payment for their face amount. This cash outflow is reported in the Financing Activities section as follows: Cash flows from financing activities: Cash paid to retire bonds payable $(50,000) Martinez Inc Statement of Cash Flows For the Year Ended December 31, 2044 Cash flows from operating activities: Cash received from customers Net Income Add Depreciation Deduct Gain Increase Account Receivable Change Inventory Change Account Payable Change Accrued Expense + Net cash flow from operating activities Cash flows from investing activities: Cash received from sale of investments Cash used to buy land Cash used to buy equipment Net cash flow used for investing activities Cash flows from financing activities: Cash received from sale of common stock Cash Paid for Dividends Net cash flow from financing activities Decrease in cash Cash all the beginning of the year Cash at the end of the year 3 5 The common stock account of Rundell Inc. increased by $8,000, and the paid-in capital in excess of par common stock account increased by $40,000, as follows: Account Common Stock Account No. Balance Debit Credit Debit Credit Date Item 2048 Jan. 1 Balance Nov. 1 4,000 shares issued for cash 16,000 24,000 8,000 Account Paid-In Capital in Excess of Par-Common Stock Account No. Balance Debit Credit Debit Credit Date Item 20Y8 Jan. 1 Balance Nov. 1 4,000 shares issued for cash 80,000 120,000 40,000 Account Paid-In Capital in Excess of Par-Common Stock Account No. Balance Debit Credit Debit Credit Date Item 2048 Jan. 1 Balance Nov. 1 4,000 shares issued for cash 40,000 80,000 120,000 These increases were from issuing 4,000 shares of common stock for $12 per share. This cash inflow is reported in the Financing Activities section as follows: Cash flows from financing activities: Cash received from sale of common stock $48,000 The bonds payable account of Rundell Inc. decreased by $50,000, as follows: Account Bonds Payable Account No. Balance Debit Credit Debit Credit Date Item 2048 Jan. 1 Balance June 1 Retired by payment of cash at face amount 150,000 100,000 50,000 This decrease is from retiring the bonds by a cash payment for their face amount. This cash outflow is reported in the Financing Activities section as follows: Cash flows from financing activities: Cash paid to retire bonds payable $(50,000) Martinez Inc Statement of Cash Flows For the Year Ended December 31, 2044 Cash flows from operating activities: Cash received from customers Net Income Add Depreciation Deduct Gain Increase Account Receivable Change Inventory Change Account Payable Change Accrued Expense + Net cash flow from operating activities Cash flows from investing activities: Cash received from sale of investments Cash used to buy land Cash used to buy equipment Net cash flow used for investing activities Cash flows from financing activities: Cash received from sale of common stock Cash Paid for Dividends Net cash flow from financing activities Decrease in cash Cash all the beginning of the year Cash at the end of the year 3 5 The common stock account of Rundell Inc. increased by $8,000, and the paid-in capital in excess of par common stock account increased by $40,000, as follows: Account Common Stock Account No. Balance Debit Credit Debit Credit Date Item 2048 Jan. 1 Balance Nov. 1 4,000 shares issued for cash 16,000 24,000 8,000 Account Paid-In Capital in Excess of Par-Common Stock Account No. Balance Debit Credit Debit Credit Date Item 20Y8 Jan. 1 Balance Nov. 1 4,000 shares issued for cash 80,000 120,000 40,000 Account Paid-In Capital in Excess of Par-Common Stock Account No. Balance Debit Credit Debit Credit Date Item 2048 Jan. 1 Balance Nov. 1 4,000 shares issued for cash 40,000 80,000 120,000 These increases were from issuing 4,000 shares of common stock for $12 per share. This cash inflow is reported in the Financing Activities section as follows: Cash flows from financing activities: Cash received from sale of common stock $48,000