Refer to RE22-5. Prepare the financing activities section of Tifton & Co.s statement of cash flows. In

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Refer to RE22-5. Prepare the financing activities section of Tifton & Co.’s statement of cash flows.
In RE22-5, Tifton & Co. had the following cash transactions during the current year:
Proceeds from issuance of common stock ........ $400,000
Payment of dividends .................. 100,000
Payment for purchase of land ............. 75,000
Proceeds from issuance of bonds payable ......... 300,000
Payment for purchase of treasury stock .......... 80,000
Proceeds from sale of equipment ............ 100,000
Payment for purchase of building ............ 500,000
Prepare the investing activities section of Tifton & Co.’s statement of cash flows.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

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