for each transaction indicate the amount of the cash flow indicate whether each resu 541478

Aug 29, 2021 | Uncategorized

E9-2A. Identify cash flows. (LO 1, 4, 6)

For each transaction, indicate the amount of the cash flow, indicate whether each results in an inflow or outflow of cash, and give the section of the statement in which each cash flow would appear. Assume the statement of cash flows is prepared using the direct method.

Amount

Inflow
or Outflow

Section of
the Statement

a. lssued1 00s hares of $2 par common
stock for $12 per share

b. Borrowed $7,000 from a local bank
to expand the business

c. Purchased $500 of supplies for $400 cash and the balance on account

d. Hireda carpenter to build some book case for the office for $500 cash

e. Earned revenue of $19,000 receiving $9,200 cash and the balance on account

f. Hired a student to do some typing
and paid him $250 cash

g. Repaid$ 7,000o f the bank loan along
with $250 interest.

h. Paid dividends of $600