53) Team Shirts, Inc. purchased a stamping machine for $21,000 from a German company. Depreciation for the machine was $4,200 for the year. How is the accounting information for the stamping machine reported on the statement of cash flows prepared using the indirect method?
54) Team Shirts, Inc. purchased 100 shares of Team Shirts’ stock for $17 per share. Cash dividends paid to shareholders were $1,250. How is the accounting information for these transactions reported on the statement of cash flows?
55) Team Shirts, Inc. borrowed $10,000 from First Bank of England. During the year, Team Shirts paid $800 in interest to First Bank of England. How is the accounting information for these transactions reported on the statement of cash flows?
56) For each of the following items, indicate whether it is either a cash inflow or outflow and in which section of the statement of cash flows it would be reported.
Item
Inflow or Outflow
Statement Section
1. Cash paid for supplies
2. Repayment of a loan
3. Cash purchase of store equipment
4. Issuance of stock
5. Payment of dividends
57) Indicate whether each of the following items is either a cash inflow or outflow and in which section of the statement of cash flows it would be reported.
1. Collection of an account receivable
2. Cash sale of inventory
3. Purchase of treasury stock
4. Sale of used store equipment
5. Payment of an account payable
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