Question: Matrix Co. reported the following items in the most recent year. Net income $50,000 Dividends paid 6,000 Increase in accounts receivable 10,000 Issuance of

Matrix Co. reported the following items in the most recent year. Net

Matrix Co. reported the following items in the most recent year. Net income $50,000 Dividends paid 6,000 Increase in accounts receivable 10,000 Issuance of common stock 10,000 Purchase of equipment (capital expenditure) 9,000 Depreciation expense 4,000 Issue of notes payable 20,000 On the Statement of Cash Flows what is Net Cash from Financing Activities? $50,000 $51,000 $24,000 $14,000 O

Step by Step Solution

★★★★★

3.45 Rating (158 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Net Cash from Financing Activities is 24000 ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Midwest Co. reported the following items in the most recent year: Net income .................................................. $40,000 Dividends paid...

Keyser Beverage reported the following items in the most recent year. Net income...................................................$40,000 Dividends...

Springsteen Co. had the following activity in its most recent year of operations. (a) Pension expense exceeds amount funded. (b) Redemption of bonds payable. (c) Sale of building at book value. (d)...

Consider the following ï¬nancial information for a recent year for two fairly similar companies: Required: (a) Compute each companys accounts receivable turnover ratio and age of...

Gentry Corporation had the following stockholders equity accounts on January 1, 2010: Common Stock ($1 par) $400,000, Paid-in Capital in Excess of Par Value $500,000, and Retained Earnings $100,000....

Brandon Corporation had the following stockholders equity accounts on January 1, 2012: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par Common Stock $200,000, and Retained Earnings...

Plover Corporation had the following stockholders' equity accounts on January 1, 2014: Common Stock ($1 par) $400,000, Paid-in Capital in Excess of Par- Common Stock $500,000, and Retained Earnings...

Hawthorne Corporation had the following stockholders equity accounts on January 1, 2014: Common Stock ($1 par) $400,000, Paid-in Capital in Excess of Par Common Stock $500,000, and Retained Earnings...

For each of the following independent situations, describe the most appropriate course of action that the auditors should take. a. Drew Allison is conducting the audit of Anderson Inc. as of December...

Let r be a random variable representing the number of successes out of n trials. About 25% of people find an excuse (work, travel out of town, etc.) to avoid a call for a jury duty. If 8 people are...

Propose a mechanism for reaction of the first three propylene units in the polymerization of propylene in the presence of a peroxide. ROOR- H2C CHCH high pressure C-C propylene I7 polypropylene

Home Innovations is evaluating a new product design. The estimated receipts and disbursements associated with the new product are shown below. MARR is 10%/yr. a. What is the external rate of return...

During the bank reconciliation process at A. Fontes Consultancy on May 2, 2019, the following two errors were discovered in the firm's records. a. The checkbook and the general journal indicated that...

Multiple Choice Questions 1. Which of the following statements is true? a. The Securities Exchange Act of 1934 regulates intrastate stock offerings made by a company. b. The Securities Act of 1933...

On August 31, 2019, the balance in the checkbook and the Cash account of the Dry Creek Bed and Breakfast was $12,981. The balance shown on the bank statement on the same date was $13,897. Notes a....

Scientists at Anschultz Laboratories, Inc., have just perfected Dentalite, a liquid substance that dissolves tooth decay. The substance which is generated by a complex process involving five...

Paper Savers Corporation produces wood pulp that is used in making paper. The following data pertain to the company's production of pulp during September: Compute the equivalent units of production...

Athletic directors at all NCAA member institutions perform the same tasks. Group of answer choices True False

1) Blue Co. is evaluating the following five year annuity proposals: Annuity #1: $50,000 paid annually with payments to be made at the end of each year (i.e. an "ordinary annuity"). Annuity #2:...

(XYZ) Co. purchased 75% of (ABC) Co. Company on January 1, Year 6, for $630,000, when the statement of financial position for (ABC) Co. showed common shares of $480,000 and retained earnings...

(XYZ) Co. purchased 75% of (ABC) Co. Company on January 1, Year 6, for $630,000, when the statement of financial position for (ABC) Co. showed common shares of $480,000 and retained earnings of...

In preparation for significant expansion of its international operations, Sheridan Co. has adopted a plan to gradually shift to the same accounting methods as used by its international competitors....

On May 1. Soriano Co. reported the following account balances along with their estimated fair values: Receivables Inventory Copyrights Patented technology Total assets Current liabilities Long-term...

Question 5 4 pts Sander Corp. has reported the following cost data: Units Produced Total Cost $42,000 4,000 $124,000 12,000 $92,000 8,000 What is the equation for the cost line? O Y=$1,000+$10.25X Y...