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The following selected accounts are from Wildhorse Corp's general ledger: Land Jan. 1 Bal. 590,000 Dec. 31 7,000 Dec. 31 Bal. 597,000 Equipment Jan. 1
The following selected accounts are from Wildhorse Corp's general ledger: Land Jan. 1 Bal. 590,000 Dec. 31 7,000 Dec. 31 Bal. 597,000 Equipment Jan. 1 Bal. 154,000 July 31 79,000 Sept. 2 60,000 Nov. 10 45,000 Dec. 31 Bal. 248.000 Accumulated Depreciation Equipment Jan. 1 Bal. 74,000 Nov. 10 26.000 Dec. 31 41,000 Dec. 31 Bal. 89,000 Dividends Payable Jan. 1 Bal. 1,200 Dec. 23 4,000 Dec. 31 Bal. 5,200 Bank Loan Payable Jan. 1 Bal. O Sept. 2 43,000 Dec. 31 Bal. 43,000 Retained Earnings Jan. 1 Bal. 150,000 Dec. 28 4.000 Dec. 31 67.000 Dec. 31 Bal. 213.000 Additional information: July 31 Equipment with a cost of $79,000 was purchased for cash. Sept. 2 a Equipment with a cost of $60,000 was purchased and partially financed through the issue of a long-term bank loan payable received specifically for the purchase of this equipment. Nov. A loss of $3,700 was incurred on the disposal of equipment. 10 Dec. 1 Acquired a small parcel of adjoining land. 23 A $4,000 cash dividend was declared to shareholders of record on December 31, payable on January 10. 31 Depreciation expense of $41,000 was recorded for the year. 31 Net income for the year was $67,000. 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).) - WILDHORSE CORP. Statement of Cash Flows (Partial) Year Ended December 31 Investing activities v ta V ta $ What is the amount that would be reported for financing activities? Financing activities Notes to the financial statements: Equipment of $ was purchased by paying $17.000 cash and issuing a bank loan payable specifically for the purchase of this equipment for $43,000. 1000 -17C
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