Question
[The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2021,
[The following information applies to the questions displayed below.]
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Millennium Solutions, Inc. collected the following information:
| ($ in millions) | |||
| Payment for the early extinguishments of long-term notes (book value: $59.0 million) | $ | 63.0 | |
| Sale of common shares | 204.0 | ||
| Retirement of common shares | 129.0 | ||
| Loss on sale of equipment | 2.7 | ||
| Proceeds from sale of equipment | 10.8 | ||
| Issuance of short-term note payable for cash | 17.0 | ||
| Acquisition of building for cash | 10.5 | ||
| Purchase of marketable securities (not a cash equivalent) | 12.0 | ||
| Purchase of marketable securities (considered a cash equivalent) | 8.0 | ||
| Cash payment for 3-year insurance policy | 10.0 | ||
| Collection of note receivable with interest (principal amount, $18) | 20.0 | ||
| Declaration of cash dividends | 46.0 | ||
| Distribution of cash dividends declared in 2020 | 43.0 | ||
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
978-0077398194
