FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Each of the following items must be considered in preparing
a statement of cash flows. Indicate where each item is
to be reported in the statement, if at all. Assume that net
income is reported as $90,000.
(a) Accounts receivable increased from $34,000 to $39,000
from the beginning to the end of the year.
(b) During the year, 10,000 shares of preferred stock with
a par value of $100 per share were issued at $115 per
share.
(c) Depreciation expense amounted to $14,000, and bond
premium amortization amounted to $5,000.
(d) Land increased from $10,000 to $30,000.

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