Acct312 Intermediate Accounting: E21-14 In preparation for developing its statement of cash
Acct312 Intermediate Accounting Week 6 E21-14 In preparation for developing its statement of cash flows for the year ended December 31, 2013, Millennium Solutions, Inc., collected the following information ($ in millions): Payment for the early extinguishments of long-term notes (book value: $50 million) 54 Sales of common shares 176 Retirement of common shares 122 Loss on sale of equipment 2 Proceeds from sale of equipment 8 Issuance of short-term note payable for cash 10 Acquisition of building for cash 7 Purchase of marketable securities (not a cash equivalent) 5 Purchase of marketable securities (considered a cash equivalent) 1 Cash payment for 3-year insurance policy 3 Collection of note receivable with interest (principal amount, $11) 13 Declaration of cash dividends 33 Distribution of cash dividends declared in 2012 30 Required: 1. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2013? 2. In Millennium’s statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2013?
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