The following are summary cash transactions that occurred during the year for Hi

Question

The following are summary cash transactions that occurred during the year for Hilliard Healthcare Co. (HHC):

Prepare the cash flows from investing and financing activities sections of HHC’s statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)

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  Cash received from:      Customers $ 840,000      Interest on note receivable 30,000      Collection of note receivable 280,000      Sale of land 58,000      Issuance of common stock 380,000   Cash paid for:      Interest on note payable 36,000      Purchase of equipment 210,000      Operating expenses 530,000      Dividends to shareholders 48,000

Explanation / Answer

Cashflow from investing activites: proceeds from sale of land        58,000      Purchase of equipment (210,000) Investing activities cashflow (152,000) Cashflow from Financing activites Issuance of common stock     380,000 Dividends to shareholders     (48,000) Financing cashflow     332,000 Total cashflow     180,000

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