During the current year, Ward Company's long-term investments account (at cost) increased $7,000, which was the net result of purchasing stock costing $51,000 and selling stocks costing $60,000 at a $6,000 loss. Ward's notes payable account decreased $11,000, the net result of issuing $24,000 of notes and paying $35,000 during year on notes. .
What items and amounts appear in the (a) cash flows from investing activities and (b) cash flows from financing activities sections of Ward Company's statement of cash flows for the current year?

Question

During the current year, Ward Company's long-term investments account (at cost) increased $7,000, which was the net result of purchasing stock costing $51,000 and selling stocks costing $60,000 at a $6,000 loss. Ward's notes payable account decreased $11,000, the net result of issuing $24,000 of notes and paying $35,000 during year on notes. . 
What items and amounts appear in the (a) cash flows from investing activities and (b) cash flows from financing activities sections of Ward Company's statement of cash flows for the current year?

Quizplus · Accepted Answer

The Answer of During the current year, Ward Company's long-term investments account (at cost) increased $7,000, which was the net result of purchasing stock costing $51,000 and selling stocks costing $60,000 at a $6,000 loss. Ward's notes payable account decreased $11,000, the net result of issuing $24,000 of notes and paying $35,000 during year on notes. . 
What items and amounts appear in the (a) cash flows from investing activities and (b) cash flows from financing activities sections of Ward Company's statement of cash flows for the current year?

During the Current Year, Ward Company's Long-Term Investments Account (At