State the effect of each of the transactions

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Reference no: EM132810635

Question - Effect of Transactions on Cash Flows

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

1. Retired $330,000 of bonds, on which there was $3,300 of unamortized discount, for $343,000.

2. Sold 7,000 shares of $15 par common stock for $26 per share.

3. Sold equipment with a book value of $57,100 for $82,200.

4. Purchased land for $386,000 cash.

5. Purchased a building by paying $63,000 cash and issuing a $120,000 mortgage note payable.

6. Sold a new issue of $150,000 of bonds at 97.

7. Purchased 4,800 shares of $20 par common stock as treasury stock at $38 per share.

8. Paid dividends of $1.60 per share. There were 34,000 shares issued and 5,000 shares of treasury stock.

Reference no: EM132810635

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