Question: Post-closing trial balance data and other financial data for Treble, Inc., as of December 31, 2016 and 2015, follow. INSTRUCTIONS Prepare a statement of cash
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INSTRUCTIONS
Prepare a statement of cash flows for 2016. Additional information for the year follows:
a. Sold an unused lot for $20,000 in cash; it originally cost $10,000.
b. Constructed a new building for $150,000, of which $20,000 was paid in cash and $130,000 is a long-term mortgage payable.
c. Issued $20,000 of 10 percent bonds payable, maturing in 2021, for cash at par.
d. Sold common stock at par $25,000 in cash.
e. Had net income of $50,000 after income taxes.
f. Paid common stock dividends of $20,000 in cash.
g. Amortized organization costs of $1,000.
h. The short-term note payable resulted from operating activities, not financing.
Analyze:
Did operating, investing, or financing activities generate the greatest net inflow of cash?
Treble, Inc December 31, 2016 and 2015 2016 2015 Account Name Credit Debit 5 2500 415 50 5000 1000 4 9000 12 5 0olo Plant and Equipment t and Equipment 47 50 4000 5000 Notes Payable-Short Term 7150|0 3625 0 2500 2000 5000 32250 2 600 1000 5000 20000 5000 18 0000 5| 4| 06|00 Mortgage Payable, 2020 7% Bonds Payable, 2018 Common Stock, $1 par 5000 0 5000l0 333 250 5| 4| 06|00 33250
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