Top Posters
Since Sunday
26
o
7
d
6
A
5
H
5
n
4
t
4
d
4
p
4
r
4
s
4
C
3
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
vanessavz vanessavz
wrote...
Go to Answer
Posts: 77
Rep: 0 0
A month ago
Morris Industries reported the following cash transactions for last year.

Borrowed money from First National Bank$100,000
Sold Morris common stock50,000
Repurchased 50 shares of common stock5,000
Sold investment in bonds issued by other companies20,000
Paid interest on notes payable3,000
Paid dividends to company's stockholders8,000
Collection by Morris for a loan made to another company22,000
Cash from sale of fully depreciated factory equipment10,000

Required:

a.Prepare the investing section of Morris's statement of cash flows.
b.Prepare the financing section of Morris's statement of cash flows.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
Read 6 times
1 Reply
Replies
Answer verified by a subject expert
dorkiexcicidorkiexcici
wrote...
#1
Posts: 80
Rep: 0 0
A month ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
a.
Proceeds from sale of investment$  20,000
Collection on note receivable22,000
Sale of factory equipment  10,000
Net cash provided by investing activities$52,000

b.
Proceeds from bank loan$100,000
Proceeds from sale of stock50,000
Repurchase of common stock(5,000)
Payment of dividends   (8,000)
Net cash provided from financing activities$137,000


1

Related Topics

vanessavz Author
wrote...

A month ago
Smart ... Thanks!
Marcie D
wrote...

Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
riptide
wrote...

2 hours ago
Thanks
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  322 People Browsing
 316 Signed Up Today
Start New Topic Take the Tour Study Tips Study ToolsNew Topics Trending Browse by Textbook
Related Images
  
 4270
  
 159
  
 2
Your Opinion
Where do you get your textbooks?
Votes: 213
Previous poll results: What's your favorite funny biology word?