ACC 211 CHALLENGE #9 CASH FLOWS

Instructions:

1. Prepare journal entries for the selected transactions listed below.

2. Based on the account information in the ledger, the selected transactions below, and the other financial statements, prepare the Statement of Cash Flows for ABC Company for the ended June 30, 2017.

3. Answer questions A-D.

ACC 211 Challenge #9 Name:, CASH FLowS Instructions: 1. Prepare journal entries for the selected transactions listed below. 2. Based on the account information in the ledger, the selected transactions below, and the other financial statements, prepare theStatement of Cash Flows for ABC Company for the year ended June 30, 2017 1. PREPARE THE JOURNAL ENTRIES (include explanations). Below is a partial list of transactions from ABC Company for fiscal year ended June 30, 2017 (NOTE: transactions have been posted to the ledger). a. Issued 5,000 shares of $1 par common stock for cash, $50,000 b. Sold investment in XYZ Co. for $35,000 of cash. c. Redeemed $55,000 bonds at face value d. Declared $4,000 in dividends. e. Recorded depreciation on equipment, $18,500 f. Paid $3,500 in cash for dividends g. Purchased equipment for cash, $13,450 PARTIAL JOURNAL Debit Credit C. 167