Banquo adheres to ASPE. Banquo Corp's transactions for the year ended December 31, 20x7 include the following:
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Banquo adheres to ASPE. Banquo Corp's transactions for the year ended December 31, 20x7 include the following:
- Purchased land for $237,000 cash.
- Borrowed $237,000 from the bank on a long-term note.
- Sold long-term investments for $201,000.
- Accounts receivable decreased by $38,000.
- Paid cash dividends of $248,000.
- Issued 1,000 common shares for $99,000.
- Purchased machinery and equipment for $60,000.
- Accounts payable increased by $75,500.
The cash provided by (used in) financing activities for 20x7 was:
Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
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