Homework SourseCash Flows From Investing Activities Cash Payment for Acquis
Cash Flows From Investing Activities:
Cash Payment for Acquisition of Plant Assets
Net Cash Provided by (Used for) Investing Activities
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Outdoor Adventure Company
Comparative Balance Sheet
December 31, 2019 and 2018
2019
2018
Assets
Current Assets:
Cash
$1,398,330
$14,790
Short-term Investments, net
29,000
0
Accounts Receivable, net
1,600
6,300
Merchandise Inventory
400
0
Office Supplies
70
300
Prepaid Rent
0
2,000
Property, Plant, and Equipment:
Land
615,000
75,000
Building
944,000
94,000
Canoes
13,920
13,920
Office Furniture and Equipment
140,000
0
Accumulated Depreciation—PP&E
(31,920)
(1,740)
Total Assets
$3,110,400
$204,570
Liabilities
Current Liabilities:
Accounts Payable
$6,420
$4,400
Utilities Payable
550
250
Telephone Payable
640
290
Wages Payable
3,700
1,200
Notes Payable
18,000
0
Interest Payable
630
30
Unearned Revenue
650
450
Long-Term Liabilities:
Notes Payable
6,720
6,720
Mortgage Payable
725,000
0
Bonds Payable
1,000,000
0
Discount on Bonds Payable
(1,140)
0
Total Liabilities
1,761,170
13,340
Stockholders\' Equity
Paid-In Capital:
Preferred Stock
60,000
0
Paid-In Capital in Excess of Par—Preferred
480,000
0
Common Stock
229,000
189,000
Paid-In Capital in Excess of Par—Common
240,000
0
Retained Earnings
340,230
2,230
Total Stockholders\' Equity
1,349,230
191,230
Total Liabilities and Stockholders\' Equity
$3,110,400
$204,570
| Cash Flows From Investing Activities: | ||||
| ||||
| Net Cash Provided by (Used for) Investing Activities |
Solution
Cash flows from investing activities
Cash payment for acquisition of land: $540000
(615000-75000)
Cash payment for acquisition of building: $850000
(944000-94000)
Purchase of Office furniture and equipment: $140000
(140000-0)
Net cash used for investing activities: $1530000
(540000+850000+140000)
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