Purchase of equipment $ 221,000 Increase in inventory 27,000 Increase in prepaid rent 8,500 Payment of dividends 33,000 Depreciation expense 12,000 Increase in accounts receivable 47,000 Increase in accounts payable 16,000 Loss on sale of land 14,500 Net income 63,000 Repayment of notes payable 43,000 Cash received from the sale of land 4,000 Issuance of common stock 243,000

Purchase of equipment $ 221,000 Increase in inventory 27,000 Increase in prepaid rent 8,500 Payment of dividends 33,000 Depreciation expense 12,000 Increase in accounts receivable 47,000 Increase in accounts payable 16,000 Loss on sale of land 14,500 Net income 63,000 Repayment of notes payable 43,000 Cash received from the sale of land 4,000 Issuance of common stock 243,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 5BE: Land transactions on the statement of cash flows IZ Corporation purchased land for 500,000. Later in...

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