Selected information follows for Wildhorse Select Corporation at December 31: Bonds payable Mortgage notes payable Common shares Retained earnings Additional information: 1. 2. 3. 2024 $1,014,900 484,500 56,100 168,300 2023 $1,014,900 204,000 45,900 86,700 Principal payments on the mortgage payable were $25,500. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. Profit for the year was $147,900. Assuming the company reports under ASPE and all dividends have been paid, prepare the financing activities section of the cash fl statement. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Wildhorse Select Corporation

Selected information follows for Wildhorse Select Corporation at December 31: Bonds payable Mortgage notes payable Common shares Retained earnings Additional information: 1. 2. 3. 2024 $1,014,900 484,500 56,100 168,300 2023 $1,014,900 204,000 45,900 86,700 Principal payments on the mortgage payable were $25,500. A building was purchased for $510,000 by paying $204,000 cash and signing a mortgage note payable for the balance. Profit for the year was $147,900. Assuming the company reports under ASPE and all dividends have been paid, prepare the financing activities section of the cash fl statement. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) Wildhorse Select Corporation

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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