To prepare its statement of cash flows for the year ended December 31, 2012, McKinney Carterette Cataloging
Question:
Dividends paid ............... $ 17,750
Purchase of treasury stock .......... 25,000
Proceeds from bank loan ............ 55,000
Gain on sale of equipment .......... 15,000
Proceeds from sale of equipment ........ 30,000
Proceeds from sale of common stock ...... 175,000
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.
Common Stock
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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Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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