Chapter 16 and 17

Chapter 16 and 17 - BUSI1002 Introduction to Accounting OPQ...

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BUSI1002 Introduction to Accounting OPQ Semester 2 2009-2010 Tutorial Assignment Solution Chapter 16: Reporting the statement of cash flows Chapter 17: Analysis of financial statement Exercise 16-3 B (15 minutes) Statement of Cash Flows Noncash Operating Activities Investing Activities Financing Activities Investing & Financing Activities Not Reported on Statement or in Notes a. Retired long-term notes payable by issuing stock X b. Recorded depreciation expense X c. Paid cash dividend that was declared in a prior period X d. Sold inventory for cash X e. Borrowed cash from bank by signing a 9-month note payable X f. Paid cash to purchase a patent X g. Accepted six-month note receivable in exchange for plant assets X h. Paid cash toward accounts payable X i. Collected cash from sales X j. Paid cash to acquire treasury stock X Exercise 16-9 (10 minutes) Cash flows from financing activities Sale of common stock ........................................................................................................................... $ 75,000 Paid cash dividend ................................................................................................................................. (13,000) Paid maturity amount on note payable ................................................................................................. (90,000) Purchased treasury stock ....................................................................................................................... (18,000 ) Net cash used by financing activities .................................................................................................... $ (46,000) Problem 16-3A B (40 minutes) GEORGIA COMPANY
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