Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a r
ID: 2560927 • Letter: R
Question
Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities Purchase of equipment Borrowings under line of credit (bank) Proceeds from issuance of common stock Cash received from customers Payments to reduce notes payable (long-term) Sale of investments Proceeds from sale of equipment Dividends paid Interest paid 941 1.487 29,864 141 7,294 97 Required: Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (Amounts to be deducted should be indicated with a minus sign.) ROWE FURNITURE CORPORATION Statement of Cash Flows (Partial) Investing Activities: Cash Flows from Financing Activities:Explanation / Answer
ROWE FURNITURE CORPORATION
Statement of cash Flows (Partial)
Cash Flow from Investing Activities
Purchase of Equipment
-$941
Sale of Equipment
$7,294
Sale of investments
$141
Net cash inflow provided by Investing Activities
$6,494
Cash Flow from Financing Activities
Borrowings under line of credit (bank)
$1,487
Proceeds from Issue of common Stock
$18
Payments to reduce note Payable (long term)
-$53
Dividends Paid
-$284
Net cash inflow provided by Financing Activities
$1,168
ROWE FURNITURE CORPORATION
Statement of cash Flows (Partial)
Cash Flow from Investing Activities
Purchase of Equipment
-$941
Sale of Equipment
$7,294
Sale of investments
$141
Net cash inflow provided by Investing Activities
$6,494
Cash Flow from Financing Activities
Borrowings under line of credit (bank)
$1,487
Proceeds from Issue of common Stock
$18
Payments to reduce note Payable (long term)
-$53
Dividends Paid
-$284
Net cash inflow provided by Financing Activities
$1,168
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