EXERCISE 21-1

F 1. Sale of common stock

I 2. Sale of land
F 3. Purchase of treasury stock
O 4. Merchandise sales
F 5. Issuance of a long-term note payable
O 6. Purchase of merchandise
F 7. Repayment of note payable
O 8. Employee salaries
I 9. Sale of equipment at a gain
F 10. Issuance of bonds
I 11. Acquisition of bonds of another corporation
O 12. Payment of semiannual interest on bonds payable
F 13. Payment of a cash dividend
I 14. Purchase of building
I 15. Collection of nontrade note receivable (principal amount)
I 16. Loan to another firm
F 17. Retirement of common stock
O 18. Income taxes
F 19. Issuance of a short-term note payable
I 20. Sale of a copyright
EXERCISE 21-14

  ($ in millions)
Payment for the early extinguishments of
 
long-term notes (book value: $50 million) $ 54
17
Sale of common shares    
6
12
Retirement of common shares    
2
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 2017   30 

Cash Flows from Investing Activities:

Proceeds from sale of equipment 8

Acquisition of building for cash (7)
Purchase of marketable securities (not a cash equivalent) (5)
Collection of note receivable with interest (principal amount) 11
Net cash inflows from investing activities $ 7

Cash Flows from Financing Activities:

Payment for the early extinguishment of

long-term notes (book value: $50 million) $ (54)
Sale of common shares 176
Retirement of common shares (122)
Issuance of short-term note payable for cash 10
Distribution of cash dividends declared in 2017 (30)
Net cash outflows from financing activities $ (20)