George Corp

question 21

Essay

George Corp.'s policy is to report all cash inflows from interest and dividends in the investing section and cash outflows arising from interest and dividends in the financing section.Angela's activities for the year ended December 31,2016 included the following:
• Declared a $12,000 cash dividend payable on January 15,2017.
• Acquired an automobile costing $30,000 under a finance lease.
• Declared and issued a stock dividend valued at $15,000.
• Issued $330,000 in ordinary shares.
• Accounts payable increased $18,000 during the year.
• Paid $980,000 to repurchase bonds.The book value of the bonds was $1,010,000.
• Made a $15,000 principal payment on a bank loan.
• Interest expense for the period was $8,000.The interest payable account increased
$2,000.
Required:
a.Prepare the cash flows from financing activities section of the statement of cash flows.
b.Identify how the activities listed above that are not financing activities would be reported in the statement of cash flows assuming that the statement is prepared using the indirect method.

Interpret bond market pricing and the effect of market dynamics on bonds' value.

Understand the importance of accurately recording formal meeting minutes and their components.

Differentiate between primary and secondary factual information and their relevance to reports.

Identify and categorize different types of business reports based on their purpose.

---

Definitions:

Plant Domestication

The process by which wild plants have been evolved into crop plants through selective breeding, often leading to plants with traits beneficial to humans.

Seed Germination

The process by which a seed begins to grow and develop into a new plant, triggered by environmental conditions such as water, temperature, and light.

Chemical Compounds

Substances formed by the combination of two or more different chemical elements held together by chemical bonds.

Pottery

The craft or profession of making objects from clay, fired at high temperatures to create bowls, vases, and other artifacts.