Land was sold for cash at its carrying amount. The short-term investments will mature in February 2022. Cash dividends were declared and paid in 2021. New equipment with a cost of $167,900 was purchased for cash, and old equipment was sold at its carrying amount. Long-term notes of $19,500 were paid in cash, and notes of $39,500 were converted to shares.
Land was sold for cash at its carrying amount. The short-term investments will mature in February 2022. Cash dividends were declared and paid in 2021. New equipment with a cost of $167,900 was purchased for cash, and old equipment was sold at its carrying amount. Long-term notes of $19,500 were paid in cash, and notes of $39,500 were converted to shares.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 39E: Reporting Net Cash Flow from Operating Activities The following information is available for...
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Additional information is as follows:
- Land was sold for cash at its carrying amount.
- The short-term investments will mature in February 2022.
- Cash dividends were declared and paid in 2021.
- New equipment with a cost of $167,900 was purchased for cash, and old equipment was sold at its carrying amount.
- Long-term notes of $19,500 were paid in cash, and notes of $39,500 were converted to shares.
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