Question: (L01,4) (Classification of Transactions) Following are selected balance sheet accounts of Allman Bros. Corp. at December 31, 2017 and 2016, and the increases or decreases in each account from 2016 to 2017. Also presented is selected income statement information for the year ended December 31, 2017, and additional information.
| 2017 | 2016 | Increase (Decrease) |
Selected balance sheet accounts | | | |
Assets | | | |
Accounts receivables | \(34,000 | \)24,000 | \(10,000 |
Property, plant and equipment | 277,000 | 247,000 | 30,000 |
Accumulated depreciation 鈥� plant assets | (178,000) | (167,000) | (11,000) |
| | | |
Liabilities and stockholder鈥檚 equity | | | |
Bonds payable | \)49,000 | \(46,000 | \)3,000 |
Dividend payable | 8,000 | 5,000 | 3,000 |
Common stock, \(1 par | 22,000 | 19,000 | 3,000 |
Additional paid-in-capital | 9,000 | 3,000 | 6,000 |
Retained earnings | 104,000 | 91,000 | 13,000 |
Selected income statement information for the year ended December 31, 2017:
Sales revenue | \)155,000 |
Depreciation | 33,000 |
Gain on sale of equipment | 14,500 |
Net income | 31,000 |
Additional information:
1. During 2017, equipment costing \(45,000 was sold for cash.
2. Accounts receivable relate to sales of merchandise.
3. During 2017, \)20,000 of bonds payable were issued in exchange for property, plant, and equipment. There was no amortization of bond discount or premium.
Instructions
Determine the category (operating, investing, or financing) and the amount that should be reported in the statement of cash flows for the following items.
(a) Payments for purchase of property, plant, and equipment.
(b) Proceeds from the sale of equipment.
(c) Cash dividends paid.
(d) Redemption of bonds payable.
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