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White raven [17]
3 years ago
11

Purchase investment in bonds for $115,000. Sell land costing $40,000 for only $31,000, resulting in a $9,000 loss on sale of lan

d. Purchase $70,000 in equipment by issuing a $70,000 long-term note payable to the seller. No cash is exchanged in the transaction. Declare and pay a cash dividend of $30,000. Required Prepare the statement of cash flows using the indirect method.

Business
1 answer:
Juli2301 [7.4K]3 years ago
6 0

Answer:

net cash flow  26,800

Explanation:

NOTE: missing information attached.

Operating

net income                 104,000

removal of non-monetary terms

depreciation expense 37,000

loss on sale of land       9,000

adjusted net income        150,000

<u>Changes in working capital:</u>

Increase in AR                  (22,000)

Decrease in Inventory       40,000

Prepaid increase                 (7,200)

Decrease in AP                 (16,000)

decrease interest paayble (5,000)

increase in tax payable         1,000

net change in working capital     (9,200)

net cash generated from operating     140,800

investing

sale of land 31,000

purchase of debt securities (115,000)

cash used in investing activities 84,000

financing

cash dividends (30,000)

cash used in financing activites 30,000

net cash flow  26,800

beginning cash 227,800

ending cash 254,600

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Assume that you and your best friend each have $1,000 to invest. You invest your money in a fund that pays 10% per year compound
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Answer:

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