Partial balance sheets for Zeng Company and additional information are provided below.Zeng CompanyPartial Statement of Financial Positionas of December 31AssetsEquipmentAccumulated depreciationShareholders' equityCommon stockRetained earningsAdditional information for 20X4:20X4Cash flows from financing activities:$ 108,000(29,000)Net cash flows from financing activities$ 220,00048,00020X3July 1: Issued 8,800 shares of common stock for cash.July 1: Purchased new equipment for cash.December 31: Paid cash dividends of $24,000.$ 83,000(24,000)Required:Prepare the financing activities section of the statement of cash flows for 20X4.Note: Amounts to be deducted should be indicated with a minus sign.$$ 108,00038,0000

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Description: Partial balance sheets for Zeng Company and additional information are provided below.Zeng CompanyPartial Statement of Financial Positionas of December 31AssetsEquipmentAccumulated depreciationShareholders' equityCommon stockRetained earningsAdditio

Financing activities include the cash received from issuance of common, preferred stock, debentures,…

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Partial balance sheets for Zeng Company and additional information are provided below. Zeng Company Partial Statement of Financial Position. as of December 31 Assets Equipment Accumulated depreciation Shareholders' equity Common stock Retained earnings Additional information for 20X4: 20X4 $ 108,000 (29,000) Cash flows from financing activities: $ 220,000 48,000 Net cash flows from financing activities 20X3 July 1: Issued 8,800 shares of common stock for cash. July 1: Purchased new equipment for cash. December 31: Paid cash dividends of $24,000. $ 83,000 (24,000) Required: Prepare the financing activities section of the statement of cash flows for 20X4. Note: Amounts to be deducted should be indicated with a minus sign. $ $ 108,000 38,000 0

Partial balance sheets for Zeng Company and additional information are provided below. Zeng Company Partial Statement of Financial Position. as of December 31 Assets Equipment Accumulated depreciation Shareholders' equity Common stock Retained earnings Additional information for 20X4: 20X4 $ 108,000 (29,000) Cash flows from financing activities: $ 220,000 48,000 Net cash flows from financing activities 20X3 July 1: Issued 8,800 shares of common stock for cash. July 1: Purchased new equipment for cash. December 31: Paid cash dividends of $24,000. $ 83,000 (24,000) Required: Prepare the financing activities section of the statement of cash flows for 20X4. Note: Amounts to be deducted should be indicated with a minus sign. $ $ 108,000 38,000 0

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.24MCE

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