For each of the following situations indicate the items to be reported on the statement of cash flows, the section of the statement in which the item would appear and the amount.
a) The board of directors declared cash dividends totalling $240 000 which were paid during the current year.
b) Office equipment, which had cost $245 000 and on which accumulated depreciation totalled $95 000 on the date of sale, was sold for $130 000 during the year.
c) Delivery equipment, which had cost $39 000 and on which accumulated depreciation totalled $23 000 on the date of sale, was sold for $20 000 during the year.
d) Received cash from the issue of 5 000 shares at $50 per share during the year.
e) The company purchased land with a mortgage note payable.
f) Depreciation expense reported on the income statement was $55 000.
g) Repaid bank loan of $60 000.

Question

For each of the following situations indicate the items to be reported on the statement of cash flows, the section of the statement in which the item would appear and the amount.
a) The board of directors declared cash dividends totalling $240 000 which were paid during the current year. 
b) Office equipment, which had cost $245 000 and on which accumulated depreciation totalled $95 000 on the date of sale, was sold for $130 000 during the year.
c) Delivery equipment, which had cost $39 000 and on which accumulated depreciation totalled $23 000 on the date of sale, was sold for $20 000 during the year.
d) Received cash from the issue of 5 000 shares at $50 per share during the year.
e) The company purchased land with a mortgage note payable.
f) Depreciation expense reported on the income statement was $55 000.
g) Repaid bank loan of $60 000.

Quizplus · Accepted Answer

The Answer of For each of the following situations indicate the items to be reported on the statement of cash flows, the section of the statement in which the item would appear and the amount.
a) The board of directors declared cash dividends totalling $240 000 which were paid during the current year. 
b) Office equipment, which had cost $245 000 and on which accumulated depreciation totalled $95 000 on the date of sale, was sold for $130 000 during the year.
c) Delivery equipment, which had cost $39 000 and on which accumulated depreciation totalled $23 000 on the date of sale, was sold for $20 000 during the year.
d) Received cash from the issue of 5 000 shares at $50 per share during the year.
e) The company purchased land with a mortgage note payable.
f) Depreciation expense reported on the income statement was $55 000.
g) Repaid bank loan of $60 000.

For Each of the Following Situations Indicate the Items to Be