Refer to the situation described in BE 4-13 and BE 4-14. How might your solution to those brief exercises differ if Hilliard Healthcare Co. prepares its statement of cash flows according to International Financial Reporting Standards?
In BE 4-13, the following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC):
Cash Received from:
Customers ........ $660,000
Interest on note receivables .. 12,000
Collection of note receivable . 100,000
Sale of land ......... 40,000
Insurance of common stock .. 200,000

Cash paid for:
Interest on note payable ..... 18,000
Purchase of equipment ..... 120,000
Operating expenses ..... 440,000
Dividends to shareholders ... 30,000
Statement of cash flows; investing and financing activities

In BE 4-14, Refer to the situation described in BE 4-13. Prepare the cash flows from investing and financing activities sections of HHC's statement of cash flows.

  • CreatedJune 24, 2013
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