Wk2 D1 M. Simmons

Wk2 D1 M. Simmons - $252,000 Payments: Suppliers (103,000 +...

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E16-16 (10-15 min.) I+ a. Loss on sale of land NIF b. Acquisition of equipment by issuance of note payable F- c. Payment of long-term debt NIF d. Acquisition of building by issuance of common stock O- e. Accrual of salary expense O+ f. Decrease in inventory O- g. Increase in prepaid expenses O- h. Decrease in accrued liabilities I+ i. Cash sale of land F+ j. Issuance of long-term note payable to borrow cash O+ k. Depreciation F- l. Purchase of treasury stock F+ m. Issuance of common stock O+ n. Increase in accounts payable O+ o. Net income F- p. Payment of cash dividend
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E16-29 (20-30 min.) Capitol Hill Corporation Statement of Cash Flows For the Year Ended June 30, 2006 Cash flows from operating activities: Receipts: Collections from customers (229,000 + 15,000) $244,000 Dividends received 8,000 Total Cash Receipts
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Unformatted text preview: $252,000 Payments: Suppliers (103,000 + 12,000) ($115,000) Employees (45,000 + 1,000) (46,000) Income taxes (9,000) Interest expenses (2,000) Total Cash Payments 172,000 Net cash provided by operating activities $80,000 Cash flows from investing activities: Acquisition of plant assets ($101,000) Cash receipts from sale of land 24,000 Net cash used for investing activities (77,000) Cash flows from financing activities: Cash receipts from issuance of stock $30,000 Payment of note payable (15,000) Payment of dividends (11,000) Net cash flows from financing activities 4,000 Net increase (decrease) in cash $7,000 Cash balance, June 30, 2005 20,000 Cash balance, June 30, 2006 $27,000...
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Wk2 D1 M. Simmons - $252,000 Payments: Suppliers (103,000 +...

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