Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the...

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Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the...

Rowe Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent quarter, it reported the following activities:


Net income	$	3,935
Purchase of equipment		851
Borrowings under line of credit (bank)		1,397
Proceeds from issuance of common stock		23
Cash received from customers		28,964
Payments to reduce notes payable (long-term)		44
Sale of investments		132
Proceeds from sale of equipment		6,394
Dividends paid		275
Interest paid		88

Required:

Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement.(Amounts to be deducted should be indicated with a minus sign.)

business accounting

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Answer 1

Answer #1

Cash flows from investing activities
Cash paid for purchase of equipment	$ (851)
Proceeds from sale of equipment	$ 6,394
Cash received from sale of investment	$ 132
Net cash provided by investing activities		$ 5,675

Cash flows from financing activities
Cash paid for dividend	$ (275)
Repayment of note	$ (44)
Proceeds from borrowings	$ 1,397
Proceeds from issue of shares	$ 23
Interest paid	$ (88)
Net cash flow provided by financing activities		$ 1,013

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Answer 2

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