Question

A company had the following transactions during the year:

1. Paid rent for the next two years, $8,500.
2. Purchased office supplies on account, $2,700.
3. Purchased equipment, paying $14,000 cash and issuing a note payable for $7,000.
4. Borrowed from the bank, $7,000.
5. Paid employee salaries, $7,900.
6. Paid $1,500 on account related to transaction 2 above.
7. Paid dividends to stockholders, $3,000.
8. Sold land for $10,900 that was purchased in a prior year for $7,700.
9. Collected cash from customers for services provided, $25,800.

Calculate cash flows from operating activities, investing activities, and financing activities. (Cash outflows should be indicated with a minus sign.)

Operating activities
Investing activities
Financing activities

Answer 1

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