Question
Ladybug Company has provided the following information for the year ended December 31, 2019: Cash paid for interest, $20,000 Cash paid for dividends, $6,000 Cash
Ladybug Company has provided the following information for the year ended December 31, 2019:
Cash paid for interest, $20,000
Cash paid for dividends, $6,000
Cash dividends received, $4,000
Cash proceeds from bank loan, $29,000
Cash purchase of treasury stock, $11,000
Cash paid for equipment purchase, $27,000
Cash received from issuance of common stock, $37,000
Cash received from sale of land with a $32,000 book value, $25,000
Acquisition of land costing $51,000 in exchange for preferred stock issuance
Payment of a $100,000 note payable by exchanging used machinery with a $77,000 book value and $100,000 fair value
How much was Ladybug's net cash flow from financing activities under US GAAP?
a.A net outflow of $51,000
b.A net inflow of $49,000
c.A net inflow of $29,000
d.A net outflow of $53,000
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