Accounting Help Asap – 52 Mins Left?

1. Columbia Inc. borrowed $15,000, issued common stock of $10,000, and paid dividends of $25,000. What was Columbia’s net cash provided (used) by financing activities?
2. The Plant Assets, Net account (the total amount of plant assets and accumulated depreciation) of Canyon Corporation shows a beginning balance of $100,000, asset purchases of $400,000, accumulated depreciation of $30,000, and an ending balance of $420,000.
Canyon sold plant assets at a $10,000 gain. Where on the statement of cash flows should Canyon report the sale of plant assets and how much should be reported for the sale?
Hint: Set up a T-account for Plant Assets, Net
Investing cash flows-sale of $40,000
Investing cash flows-sale of $50,000
Investing cash flows-sale of $60,000
Financing cash flows-sale of $60,000

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