Question
In: Accounting
Prepare the cash flows from investing and financing activities sections of HHC's statement of cash flows.
The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC):
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 investing and financing activities sections of HHC's statement of cash flows.
Solutions
Expert Solution
Cash Flows from Investing Activities:
Proceeds from note receivable collection $100,000
Sale of land 40,000
Purchase of equipment (120,000)
Net cash flows from investing activities $20,000
Cash Flows from Financing Activities:
Issuance of common stock $200,000
Payment of dividends (30,000)
Net cash flows from financing activities 170,000
Cash Flows from Investing Activities: $20,000
Cash Flows from Financing Activities: $170,000
Renze Joy Candido answered 2 years agoRelated Solutions
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Adjustments for noncash income
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