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During the year a company issues common stock for $50,000 and repays previously

During the year, a company issues common stock for $50,000 and repays previously borrowed amounts of $75,000. In addition, the company pays dividends of $5,000 to stockholders. Determine the amount of financing cash flows the company will report in the current year.

 

 

147. Consider the following transactions:

1. Pay employees’ salaries.

2. Repay borrowing to the bank.

3. Purchase equipment with note payable.

4. Provide services to customers on account.

5. Pay dividends to stockholders.

6. Collect cash from customers for services provided.

7. Purchase supplies on account.

8. Pay for supplies purchased in transaction 7 above.

For each transaction, indicate the type of cash flow involved based on the classifications in the statement of cash flows. If a transaction does not involve cash, write ‘No Cash.’

 

 

148. A company had the following transactions during the year:

1. Paid rent for the next two years, $8,000.

2. Purchased office supplies on account, $2,400.

3. Purchased equipment, paying $12,000 cash and issuing a note payable for $4,000.

4. Borrowed from the bank, $6,000.

5. Paid employee salaries, $7,200.

6. Paid $2,000 on account related to transaction 2 above.

7. Paid dividends to stockholders, $2,800.

8. Sold land for $10,000 that was purchased in a prior year for $7,500.

9. Collected cash from customers for services provided, $25,700.

Calculate cash flows from operating activities, investing activities, and financing activities.

Jan 27 2020 View more View Less

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