CREAT A STATEMENT OF CASH FLOWS USING THE PROVIDED INFORMATION Hollywood Corp. For Year Ended...
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CREAT A STATEMENT OF CASH FLOWS USING THE PROVIDED INFORMATION
Hollywood Corp. For Year Ended Dec. 31, 2027 Net Income: 105,000 Operating activities: 1) Accounts payable decreaed by $10,000. 2) Accounts Receivable decreased by $15,000. 3) Inventory increased by $17,500. Investing activities: 1) Land was sold for $45,000. 2) Equipment was purchased for $22,000. Financing Activities: 1) Common stock was issued for $60,000. 2) A cash dividend of $25,000 was declared and paid. Non-cash activty: Hollywood Corp. issued 100 shares of common stock, par value $10 for equipment worth $2,000.
Hollywood Corp. For Year Ended Dec. 31, 2027 Net Income: 105,000 Operating activities: 1) Accounts payable decreaed by $10,000. 2) Accounts Receivable decreased by $15,000. 3). Inventory increased by $17,500. Investing activities: 1) Land was sold for $45,000. 2) Equipment was purchased for $22,000. Financing Activities: 1) Common stock was issued for $60,000. 2) A cash dividend of $25,000 was declared and paid. Non-cash activty: Hollywood Corp. issued 100 shares of common stock, par valu $10 for equipment worth $2,000
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