Use the Following Selected Data and Additional Information from the Records

question 164

Essay

Use the following selected data and additional information from the records of Utah Corp. to answer the questions that follow.
1 Equipment with a cost of $15,000 and a book value of $3,000 was sold for $5,000 during 2016.
2 Common stock was issued to retire bonds payable during 2016.
3 The only items affecting retained earnings in 2016 were net income and dividends declared and paid.
-Review the data for Utah Corp.
REQUIRED:
A Prepare the investing activities section of a statement of cash flows for 2016 for Utah Corp.
B Prepare the financing activities section of a statement of cash flows for 2016 for Utah Corp.

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Definitions:

Stepfamily

A family where at least one parent has children that are not genetically related to the other spouse or partner.

Latinos

People of Latin American origin or descent, often living in the United States.

Stepfamilies

Family units formed by the remarriage of a divorced or widowed person that include a child or children from a previous marriage.

Nuclear Families

A family structure consisting of two parents (a mother and a father) and their children, considered the traditional family unit.