The following transactions occurred for That Old Company Inc. at the end of the year: a....

Transcribed Image Text:

The following transactions occurred for That Old Company Inc. at the end of the year: a. Net Income for the year was $53,000. Depreciation Expense was $ b. 1,400 shares of Common Stock were issued for $28 per share in cash. c. Paid 18,000 towards a note payable. No new notes were signed this year. d. Purchased office equipment for $5,250 in cash. e. Cash dividends were paid this year. Beginning retained earnings was $170,000 and ending Retained Earnings was $212,000. Work through your calculations for each transaction and prepare the financing section of the statement of cash flows Cash Flows from Financing Activities: Net Cash Provided by Financing Activities 10200 The following transactions occurred for That Old Company Inc. at the end of the year: a. Net Income for the year was $53,000. Depreciation Expense was $ b. 1,400 shares of Common Stock were issued for $28 per share in cash. c. Paid 18,000 towards a note payable. No new notes were signed this year. d. Purchased office equipment for $5,250 in cash. e. Cash dividends were paid this year. Beginning retained earnings was $170,000 and ending Retained Earnings was $212,000. Work through your calculations for each transaction and prepare the financing section of the statement of cash flows Cash Flows from Financing Activities: Net Cash Provided by Financing Activities 10200