State the Section(s) of the Statement of Cash Flows Prepared $\$ 120,000$

question 138

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 5 -year, $8 \%$ note for that amount
A)Operating activities
B)Financing activities
C)Investing activities
D)Schedule of noncash financing and investing

• A)Operating activities
• B)Financing activities
• C)Investing activities
• D)Schedule of noncash financing and investing

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