Question

16-3 16-02 Effect of Transactions on Cash Flows State the effect (cash receipt or payment and...

16-3 16-02

Effect of Transactions on Cash Flows

State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows:

Retired $340,000 of bonds, on which there was $3,400 of unamortized discount, for $354,000.

Sold 12,000 shares of $20 par common stock for $47 per share.

Sold equipment with a book value of $48,400 for $69,700.

Purchased land for $448,000 cash.

Purchased a building by paying $72,000 cash and issuing a $110,000 mortgage note payable.

Sold a new issue of $240,000 of bonds at 97.

Purchased 4,700 shares of $15 par common stock as treasury stock at $29 per share.

Paid dividends of $2.20 per share. There were 18,000 shares issued and 3,000 shares of treasury stock.

Effect

Amount

a.

Cash payment

$-354,000

b.

Cash receipt

$

c.

Cash receipt

$

d.

Cash payment

$

e.

Cash payment

$

f.

Cash receipt

$

g.

Cash payment

$

h.

Cash payment

$
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Homework Answers

Answer #1

* Payments are shown within "( )" in below table

Effect Amount Working
a. Cash payment $     (354,000.00) Bond retired for $ 354000
b. Cash receipt $       564,000.00 12,000 shares issued at $ 47
c. Cash receipt $          69,700.00 Cash received from sale.
d. Cash payment $     (448,000.00)
e. Cash payment $       (72,000.00)
f. Cash receipt $       232,800.00 $ 240,000 x 97%. Rest is discount on bonds payable.
g. Cash payment $     (136,300.00) 4,700 shares purchased at $ 29
h. Cash payment $       (33,000.00) (18000 shares - 3000 shares) x $ 2.2
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