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vanessavz vanessavz
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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


Edition: 4th
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dorkiexcicidorkiexcici
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A month ago
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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


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vanessavz Author
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A month ago
Smart ... Thanks!
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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2 hours ago
Thanks
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