1. Purchased land for $275,000 cash. 2. Borrowed $275,000 from the bank on a long-term note. 3. Sold long-term investments for $250,000. 4. Accounts receivable decreased by $50,000. 5. Paid cash dividends of $300,000. 6. Issued 1,000 common shares for $125,000. 7. Purchased machinery and equipment for $62,500 cash. 8. Accounts payable increased by $100,000. Find cash used in investing and financing activities?

1. Purchased land for $275,000 cash. 2. Borrowed $275,000 from the bank on a long-term note. 3. Sold long-term investments for $250,000. 4. Accounts receivable decreased by $50,000. 5. Paid cash dividends of $300,000. 6. Issued 1,000 common shares for $125,000. 7. Purchased machinery and equipment for $62,500 cash. 8. Accounts payable increased by $100,000. Find cash used in investing and financing activities?

Name: 1. Purchased land for $275,000 cash.2. Borrowed $275,000 from the ban
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Description: 1. Purchased land for $275,000 cash.2. Borrowed $275,000 from the bank on a long-term note.3. Sold long-term investments for $250,000.4. Accounts receivable decreased by $50,000.5. Paid cash dividends of $300,000.6. Issued 1,000 common shares for $1

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 1EA: Provide journal entries to record each of the following transactions. For each, identify whether the...

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Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). A. Paid $22,000 cash on bonds payable. B. Collected $12,600 cash for a note receivable. C. Declared a dividend to shareholders for $16,000, to be paid in the future. D. Paid $26,500 to suppliers for purchases on account. E. Purchased treasury stock for $18,000 cash.
Which of the following transactions changes only the mix of assets and does not affect liabilities or stockholders’ equity? A. Borrowed $40,000 from First National Bank B. Purchased land for $50,000 cash C. Received $3,800 for fees earned D. Paid $4,000 for Office salaries
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