The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC): Cash Received from: Customers
Cash Received from:
Customers ........ $660,000
Interest on note receivables .. 12,000
Collection of note receivable . 100,000
Sale of land ......... 40,000
Insurance of common stock .. 200,000
Cash paid for:
Interest on note payable ..... 18,000
Purchase of equipment ..... 120,000
Operating expenses ..... 440,000
Dividends to shareholders ... 30,000
Prepare the cash flows from operating activities section of HHC's statement of cash flows using the direct method.
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Step by Step Answer:
Chapter # 4
Section: Brief Exercises
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Question Posted: June 24, 2013 07:13:49