17:00 edugen.wileyplus.com 55%-. Exercise 12-14 Your answer is partially correct

Question

17:00 edugen.wileyplus.com 55%-. Exercise 12-14 Your answer is partially correct. Try again. The following information is available for Whispering Winds Corp. for 2017 Cash used to purchase treasury stock Cash dividends paid Cash paid for interest Net income Sales revenue Cash paid for taxes Cash received from customers Cash received from sale of building (at book value) Cash paid for operating expenses Beginning cash balance Cash paid for goods and services Cash received from issuing common stock Cash paid to redeem bonds at maturity Cash paid to purchase equipment $122,655 55,590 7,120 1,183,965 2,045,100 252,450 1,443,555 503,880 196,350 28,050 711,705 905,250 510,000 288,660 Prepare a statement of cash flows using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a -sign e.g.-15,000 or in parenthesis e.g. (15,000).)

Explanation / Answer

I am providing the correct format of answering this question. You missed the negative sign in Investing and Financing activities.

Purchase of Equipment = -288,660 (please put the figure in column with negative sign)

Purchase of Treasury Stock = -122,655 (please put the figure in column with negative sign)

Payment of Cash Dividend = -55,590 (please put the figure in column with negative sign)

Cash paid to redeem bonds at maturity = -510,000 ((please put the figure in column with negative sign)

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