Question
The following selected accounts are from Carla Vista Corp.s general ledger: Land Jan. 1 Bal. 530,000 Dec. 31 9,000 Dec. 31 Bal. 539,000 Equipment Jan.
The following selected accounts are from Carla Vista Corp.s general ledger:
Land | |||||
---|---|---|---|---|---|
Jan. 1 | Bal. | 530,000 |
| ||
Dec. 31 |
| 9,000 |
|
|
|
Dec. 31 | Bal. | 539,000 |
|
Equipment | |||||
---|---|---|---|---|---|
Jan. 1 | Bal. | 163,000 |
| ||
July 31 | 80,000 | ||||
Sept. 2 |
| 56,000 | Nov. 10 |
| 36,000 |
Dec. 31 | Bal. | 263,000 |
|
Accumulated DepreciationEquipment | |||||
---|---|---|---|---|---|
| Jan. 1 | Bal. | 79,000 | ||
Nov. 10 |
| 29,000 | Dec. 31 |
| 48,000 |
| Dec. 31 | Bal. | 98,000 |
Dividends Payable | |||||
---|---|---|---|---|---|
| Jan. 1 | Bal. | 1,000 | ||
|
|
| Dec. 23 |
| 4,100 |
| Dec. 31 | Bal. | 5,100 |
Bank Loan Payable | |||||
---|---|---|---|---|---|
| Jan. 1 | Bal. | 0 | ||
|
|
| Sept. 2 |
| 47,000 |
| Dec. 31 | Bal. | 47,000 |
Retained Earnings | |||||
---|---|---|---|---|---|
| Jan. 1 | Bal. | 105,000 | ||
Dec. 23 |
| 4,100 | Dec. 31 |
| 63,000 |
| Dec. 31 | Bal. | 163,900 |
Additional information:
July 31 | Equipment with a cost of $80,000 was purchased for cash. | ||
Sept. 2 | Equipment with a cost of $56,000 was purchased and partially financed through the issue of a long-term bank loan payable received specifically for the purchase of this equipment. | ||
Nov. 10 | A loss of $3,600 was incurred on the disposal of equipment. | ||
Dec. 1 | Acquired a small parcel of adjoining land. | ||
23 | A $4,100 cash dividend was declared to shareholders of record on December 31, payable on January 10. | ||
31 | Depreciation expense of $48,000 was recorded for the year. | ||
31 | Net income for the year was $63,000. |
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 e.g. -15,000 or in parenthesis e.g. (15,000).)
CARLA VISTA CORP. Statement of Cash Flows (PartiaL) Year Ended December 31 | ||
---|---|---|
Investing activities | ||
select an item Issue of common sharesPayments of cash dividendsDisposal of equipmentSale of common sharesRepayment of bank loanPurchase of landPurchase of equipmentSale of landPurchase of common shares | $enter a dollar amount | |
select an item Payments of cash dividendsSale of common sharesDisposal of equipmentPurchase of equipmentIssue of common sharesRepayment of bank loanPurchase of common sharesSale of landPurchase of land | enter a dollar amount | |
select an item Issue of common sharesSale of landPurchase of landSale of common sharesRepayment of bank loanPayments of cash dividendsDisposal of equipmentPurchase of equipmentPurchase of common shares | enter a dollar amount | |
select a closing name for this section Cash at beginning of periodCash at end of periodCash flows from financing activitiesCash flows from investing activitiesCash flows from operating activitiesNet cash provided by financing activitiesNet cash provided by investing activitiesNet cash provided by operating activitiesNet cash used by financing activitiesNet cash used by investing activitiesNet cash used by operating activitiesNet decrease in cashNet increase in cash | $enter a total amount for this section |
What is the amount that would be reported for financing activities?
Financing activities | enter financing activities in dollars |
Notes to the financial statements: Equipment of $Enter a dollar amount was purchased by paying $9,000 cash and issuing a bank loan payable specifically for the purchase of this equipment for $47,000.
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