Refer to the information in RE21 6 Prepare the financing

activities #2615
Refer to the information in RE21-6. Prepare the financing activities section of Tifton & Co.’s
statement of cash flows.In exerciseIn the current year, Harrisburg Corporation had net income
of $35,000, a $9,000 decrease in accounts receivable, a $7,000 increase in inventory, an
$8,000 increase in salaries payable, a $13,000 decrease in accounts payable, and $10,000 in
depreciation expense. Using the indirect method, prepare the operating activities section of its
statement of cash flows based on this information.Tifton 8c Co. had the following cash
transactions during the current year:Proceeds from issuance of common stock ...........
$400,000Payment of dividends Payment for purchase of land ....... 100,000Proceeds from
issuance of bonds payable ........... 75,000Payment for purchase of treasury stock ............
300,000Proceeds from sale of equipment ................ 100,000Payment for purchase of building
............... 500,000View Solution:
Refer to the information in RE21 6 Prepare the financing activities

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