- Q2 The Following Are Summary Transactions For Year 2020 For Terrazo Company Cash Received From Customers 660 000 Inte 1 (60.92 KiB) Viewed 76 times
statement of cash flows for 2020 for Terrazo Company. Use the
direct method for reporting operating
activities.
Q2. The following are summary transactions for year 2020 for Terrazo Company: Cash received from Customers $660,000 Interest on note receivable 12,000 Sale of investments 20,000 Proceeds from note payable 100,000 Sale of equipment 40,000 Issuance of common stock 200,000 Cash paid for: Purchase of investments (not cash equivalents) Interest on note payable Purchase of equipment Operating expenses Principal on note payable Payment of dividends to shareholders 100,000 18,000 120,000 440,000 150,000 30,000 The balance of cash and cash equivalents is $130,000 at the beginning of 2020 and $304,000 at the end of 2020.