Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Aa Aa E 6. Statement of cash flows Financing activities Bergum Co.'s annual reports for the two most recent years yielded the following financial information:

image text in transcribedimage text in transcribed

Aa Aa E 6. Statement of cash flows Financing activities Bergum Co.'s annual reports for the two most recent years yielded the following financial information: 2012 2013 Bonds payable $95,000 $120,000 Preferred stock 252,000 156,000 Additional paid-in capital 645,000 585,000 Retained earnings 436,000 390,000 73,000 0 Treasury stock The following information is also available for 2013: 1. Repaid $106,000 of bonds for face value, $106,000. 2. Issued $81,000 of bonds for face value, $81,000. 3. Issued 6,000 shares of $16 par preferred stock for $26 per share. 4. Net income for 2013 is $81,000. 5. Paid cash dividends of $35,000. 6. Purchased treasury stock for $73,000. Fill in the cash flows amount from the financing activities section of the statement of cash flows. If the amount is a source of cash, enter it as a positive number. If the amount is a use of cash, enter it as a negative number

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Audit Principle 5 Powerful Steps To Align Your Life With The Laws Of Success

Authors: Jane Ann Craig

1st Edition

1732729107, 978-1732729100

More Books

Students also viewed these Accounting questions

Question

15-5 Develop a grievance procedure.

Answered: 1 week ago

Question

pr-16-1A gain on sale of investments

Answered: 1 week ago

Question

3. What are the current trends in computer hardware platforms?

Answered: 1 week ago