State the Section (S) of the Statement of Cash Flows

question 91

Essay

State the section (s) of the statement of cash flows prepared by the indirect method (operating activities, investing activities, financing activities, or not reported) and the amount that would be reported for each of the following transactions:?
(a)Received $120,000 from the sale of land costing $70,000.
(b)Purchased investments for $75,000.
(c)Declared $35,000 cash dividends on stock. $5,000 dividends were payable at the beginning of the year, and $6,000 were payable at the end of the year.
(d)Acquired equipment for $64,000 cash.
(e)Declared and issued 100 shares of $20 par common stock as a stock dividend, when the market price of the stock was $32 a share.
(f)Recognized depreciation for the year, $37,000.
(g)Issued 85,000 shares of $10 par common stock for $25 a share, receiving cash.
(h)Issued $500,000 of 20-year, 10% bonds payable at 99.
(i)Borrowed $43,000 from Regional Bank, issuing a five-year, 8% note for that amount.

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Definitions:

Lifetime Learning Credit

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Child Tax Credit

A tax credit offered to eligible taxpayers for each qualifying dependent child, intended to help offset the cost of raising children.

American Opportunity Tax Credit

A credit for qualified education expenses paid for an eligible student for the first four years of higher education, aimed at making college more affordable.