Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dristell Inc. had the dowing activities during the year Jail transactions are for cash unless stated otherwise) a. A building with a book value
Dristell Inc. had the dowing activities during the year Jail transactions are for cash unless stated otherwise) a. A building with a book value of $400.000 was sold for $500,000 b. Additional common stock was issued for $160,000 Dristell purchased its own common stock as treasury stock at a cost of $75.000 d. Land was acquired by issuing a 6%, 10-year $750,000 note payable to the seller, e A dividend of $40,000 was paid to shareholders t An investment in Fleet Corp's common stock was made for $120.000 g. New equipment was purchased for $65,000. h. A $90,000 note payable issued three years ago was paid in fut A loan for $100,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months Required: Calculate net cash flows from financing activities (Cash outflows should be indicated with a minus sign.) Nel cast flows 45,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started