Chapter 14 Assignments

# Chapter 14 Assignments - Chapter 14 Assignments Page 1...

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Page 1 Chapter 14 Assignments 6/10/2011 12:26:41 AM .. Assignment : Chapter 14 Assignments Score for selected take: 57.14% (5.71/10) Time spent on selected take: 1 hour, 32 minutes, 1 second >> Additional Resources << Student: Victor Ovalle Jr Assignment score: 57.14% Total Time spent: 1 hour, 32 minutes, 1 second 1. Your answer: Exercise 14-2 Effect of transactions on cash flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: a. Sold a new issue of \$200,000 of bonds at 99. b. Purchased 4,000 shares of \$35 par common stock as treasury stock at \$70 per share. c. Sold 10,000 shares of \$20 par common stock for \$50 per share. d. Purchased a building by paying \$60,000 cash and issuing a \$100,000 mortgage note payable. e. Retired \$250,000 of bonds, on which there was \$2,500 of unamortized discount, for \$260,000. f. Purchased land for \$320,000 cash. g. Paid dividends of \$2.00 per share. There were 25,000 shares issued and 4,000 shares of treasury stock. h. Sold equipment with a book value of \$50,000 for \$72,000. Enter all amounts as positive numbers. Effect Amount a. Cash receipt \$198000 b. Cash payment \$280000 c. Cash receipt \$500000 d. Cash payment \$60000 e. Cash payment \$260000 f. Cash payment \$320000 g. Cash payment \$42000 h. Cash receipt \$72000

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Page 2 Chapter 14 Assignments 6/10/2011 12:26:41 AM .. >> Additional Resources << 2. Your answer: Exercise 14-6 Net cash flows from operating activities indirect method The net income reported on the income statement for the current year was \$210,000. Depreciation recorded on equipment and a building amounted to \$62,500 for the year. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows , using the indirect method. If needed, use the minus sign to indicate cash outflows. Cash flows from operating activities:
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## This note was uploaded on 07/17/2011 for the course ACCT 102 taught by Professor Martinez during the Summer '11 term at Rio Hondo College.

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Chapter 14 Assignments - Chapter 14 Assignments Page 1...

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