How do I do these types of problems.
Effect of Transactions on Cash Flows
State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows:
Sold equipment with a book value of $78,000 for $94,000. My answer = 94,000 correct
Sold a new issue of $250,000 of bonds at 102. My answer = 25500000 wrong
Retired $400,000 of bonds, on which there was $4,000 of unamortized discount, for $475,000.=75,000 wrong
Purchased 3,000 shares of $30 par common stock as treasury stock at $40 per share. My answer 900,000 wrong
Sold 4,000 shares of $25 par common stock for $50 per share?
Paid dividends of $1.50 per share. There were 40,000 shares issued and 5,000 shares of treasury stock?
Purchased land for $287,000 cash. 287,000 correct
Purchased a building by paying $60,000 cash and issuing a $50,000 mortgage note payable. = 50,000 wrong.
Please help with correct steps.
thanks in advance.
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