Reading General Millss Statement of Cash Flows Refer to General Millss statement of cash flows for the
Question:
Required
1. What sources of cash are revealed in the Financing Activities category of the statement of cash flows?
2. What was the amount of dividends paid to stockholders during the period?
3. The Financing Activities section indicates a large negative amount for the purchase of treasury stock. When treasury stock is purchased, what is the effect on the accounts of the balance sheet? Making Financial Decisions
Step by Step Answer:
1 The company had sources of cash from financing act...View the full answer
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
Related Video
Treasury stock refers to shares of a company\'s own stock that the company has bought back from its shareholders and now holds as a form of asset on its balance sheet. When a company buys back its own stock, it reduces the number of outstanding shares in the market, which can potentially increase the value of the remaining shares. Treasury stock can be acquired through a variety of methods, such as open market purchases, negotiated transactions, or as a result of converting convertible securities. Companies may buy back their own shares for a number of reasons, including to return capital to shareholders, to signal confidence in the company\'s future, or to use the shares for employee stock option plans. While treasury stock does not pay dividends, it can be reissued by the company at a later time, which could dilute the value of the remaining shares. Companies are required to report their treasury stock holdings in their financial statements.
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