Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Is this correct? Flow Company has provided the following information for the year ended December 31, 2016: Cash paid for interest. $22, 500 Cash paid

Is this correct? image text in transcribed
Flow Company has provided the following information for the year ended December 31, 2016: 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 vale of with a $34, 500 book value $27,000 Acquisition of land costing $53, 500 in exchange for preferred stock issuance. Payment of a $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 financing activities? A net outflow of $56,000 A net outflow of $56,000 A net inflow of $53, 500 A net inflow of $34,000

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

Core Concepts Of Accounting Information Systems

Authors: Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman

11th Edition

9780470507025, 0470507020

More Books

Students also viewed these Accounting questions