On July 31 of the Current Year, Bridges Industries Borrowed

question 47

Short Answer

On July 31 of the current year, Bridges Industries borrowed $60,000 from the First National Bank.The $60,000 was used to pay dividends of $40,000 to stockholders and purchase a $20,000 piece of equipment.How will these transactions be reported in the statement of cash flows?

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Definitions:

Interact

To interact is to act in such a way that affects or influences another entity or person, suggesting a reciprocal or dynamic exchange.

Scientific Psychology

A branch of psychology that applies scientific methods to study and understand human thought, behavior, and emotion.

Folk Psychology

The informal, common-sense understanding and explanation of human behavior and mental processes, often contrasted with scientific psychology.

Real

Existing or occurring as a fact; actual rather than imaginary, ideal, or fictitious.