A payment of interest on notes payable b exchange of

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activity (indirect method), investing activity, financing activity, and significant noncash investing and financing activity.  (a) Payment of interest on notes payable. (b) Exchange of land for patent. (c) Sale of building at book value. (d) Payment of dividends. (e) Depreciation.  (f) Receipt of dividends on investment in stock.  (g) Receipt of interest on notes receivable. (h) Issuance of capital stock. (i) Amortization of patent. (j) Issuance of bonds for land. (k) Purchase of land. 
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(l) Conversion of bonds into common stock. (m) Loss on sale of land.  (n) Retirement of bonds. E17-5 The current sections of Bellinham Inc.'s balance sheets at December 31, 2009 and 2010, are presented here.  Bellinham's net income for 2010 was $153,000. Depreciation expense was $24,000.      2010   2009 Current assets          Cash $105,000   $99,000    Accounts receivable 110,000   89,000    Inventory 158,000   172,000    Prepaid expenses 27,000   22,000         Total current  assets $400,000   $382,000         Current liabilities          Accrued expenses  payable   $15,000   $5,000    Accounts payable 85,000   92,000        Total current  liabilities $100,000   $97,000 Instructions   Prepare the net cash provided by operating activities section of the company's statement of cash flows for the year ended  December 31, 2010, using the indirect method.  (List amounts from largest positive to smallest positive followed by  most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign   preceding the number eg -45 or parentheses eg (45).)   BELLINGHAM INC, Partial Statement of Cash Flows For the Year Ended December 31, 2010 Cash flows from operating activities           $    Adjustments to reconcile net income           to net cash provided by operating activities              $                                                                Net cash by operating activities   $ E17-6 The three accounts shown below appear in the general ledger of Cesar Corp. during 2010.    Equipment  
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Date     Debit Credit Balance Jan. 1 Balance     160,000 July 31 Purchase of  equipment 70,000   230,000 Sept. 2 Cost of  equipment  constructed
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  • Spring '11
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