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The following cash transactions occurred during the period.
The following cash transactions occurred during the period.
INTEREST RECEIVED IN CASH $18,000
PAYMENT OF WAGES TO EMPLOYEES $35,000
PURCHASE OF A PIECE OF EQUIPMENT FOR CASH $120,000
DISTRIBUTION OF CASH DIVIDEND DECLARED LAST YEAR $25,000
Fill in the statement of cash flows on the left following US GAAP. Use the direct method for calculating cash flow from Operating Activities.
ACCORDING TO US GAAP
OPERATING ACTIVITIES
SOURCES: ?
(USES:) PAYMENT OF WAGES TO EMPLOYEES $35,000, PURCHASE OF A PIECE OF EQUIPMENT FOR CASH $120,000
INVESTING ACTIVITIES
SOURCES: ?
(USES:) ?
FINANCING ACTIVITIES
SOURCES: ?
(USES:) ?
