A building is bought on August 1, Year 1, for $400,000 and is depreciated using the straight-line method over a life of 20 years with an expected residual value of $40,000. The half-year convention is elected. On April 1, Year 3, the building is sold for a loss of $30,000. What appears on the company's year 3 statement of cash flows?

A company's total stockholders' equity on January 1 was $870,000. At the end of the year this balance was $990,000. The company bought back treasury stock during the year. The shares were originally issued for $120,000 and were reacquired for $150,000. The company reported net income for the year of $340,000. No other stock transactions occurred during the year but a dividend was paid. How much should be reported on the statement of cash flows for the dividend distribution?

Which of the following accounts would affect retained earnings? A) Net income B) Dividend payments

A company has to report cash flows generated from its operating activities. Which of the following is true in regards to the presentation of operating activities on the statement of cash flows?