Question

To prepare its statement of cash flows for the year ended June 30, 2011, Glavine Sports Products, Inc., gathered the following information:
Loss on sale of automobile ........... $ 5,000
Proceeds from sale of automobile ......... 7,500
Purchase of automobile ............. 42,000
Dividends declared ............... 10,000
Dividends paid ................ 5,000
Proceeds from sale of treasury stock ....... 65,000
Repayment of loan principal .......... 17,500
Payment of interest on loan ........... 500

Requirements
1. Prepare the cash from investing section of the statement of cash flows.
2. Prepare the cash from financing section of the statement of cash flows.



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  • CreatedSeptember 01, 2014
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