3 Accouting Questions DUE ASAP

(Chapter 16 Question 1). Cutlass Corporation is authorized to issue 40,000 shares of $1 par value common stock. On March 15, it issues 1,000 shares for $6 per share. Record this transaction for Cutlass.

(Chapter 17 Question 1). Use the following abbreviations to indicate in which section of the statement of cash flows you would find each item below.

O = Operating Section

I = Investing Section

F = Financing Section

____ Issuance of bonds payable

____ Cash paid for interest

____ Cash collected from customers

____ Paid dividends

____ Sold equipment

____ Issued preferred stock

____ Cash paid for inventory purchases

____ Purchased an equity investment in another company

____ Cash received from dividend income

(Chapter 17 Question 4). Jamison Company Income Statement as of 12/31/X6

Selected Balance Sheet Accounts from the Beginning and End of 20X6

- Determine Jamison’s cash flow from operations using both the direct and indirect methods.