Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Flow Company has provided the following information for the year ended December 31, 2019: Cash paid for interest, $22,500 Cash paid for dividends, $6,500 Cash

image text in transcribedimage text in transcribed

Flow Company has provided the following information for the year ended December 31, 2019: Cash paid for interest, $22,500 Cash paid for dividends, $6,500 Cash dividends received, $4,500 Cash proceeds from bank loan, $34,000 Cash purchase of treasury stock, $13,500 Cash paid for equipment purchase, $29,500 Cash received from issuance of common stock, $39,500 Cash received from sale of land with a $34,500 book value, $27,000 Acquisition of land costing $53,500 in exchange for preferred stock issuance. Payment of $125,000 note payable by exchanging used machinery with a $79,500 book value and $125,000 fair value How much was Flow's net cash flow from investing activities? Multiple Choice A net outflow of $2,500. A net outflow of $56,000 A net inflow of $2,500. A net inflow of $53,500 Flow Company has provided the following information for the year ended December 31, 2019: Cash paid for interest, $22,000 Cash paid for dividends, $6,400 Cash dividends received, $4,400 Cash proceeds from bank loan, $33,000 Cash purchase of treasury stock, $13,000 Cash paid for equipment purchase, $29,000 Cash received from issuance of common stock, $39,000 Cash received from sale of land with a $34,000 book value, $26,600 Acquisition of land costing $53,000 in exchange for preferred stock issuance. Payment of a $120,000 note payable by exchanging used machinery with a $79,000 book value and $120,000 fair value. How much was Flow's net cash flow from financing activities? Multiple Choice A net inflow of $52,600. A net outflow of $55,000. A net inflow of $33,000. A net outflow of $55,400

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

Step: 3

blur-text-image

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

Accounting A Smart Approach

Authors: Mary Carey, Cathy Knowles, Jane Towers-Clark

3rd Edition

0198745133, 978-0198745136

More Books

Students also viewed these Accounting questions

Question

How does the concept of hegemony relate to culture?

Answered: 1 week ago