The following selected accounts are from Dupré Corp.'s general ledger: Additional information: July 31 Equipment with a
Question:
Additional information:
July 31 Equipment with a cost of $70,000 was purchased for cash.
Sept. 2 Equipment with a cost of $53,000 was purchased and partially financed through the issue of a long-term bank loan payable.
Nov. 10 A loss of $3,000 was incurred on the disposal of equipment.
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 $48,000 was recorded for the year.
31 Net income for the year was $60,000.
Instructions
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.
Step by Step Answer:
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine