Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Net income was $469,000. Issued common stock for $72,000 cash. Paid cash dividend of $15,000. Paid $130,000 cash to settle a note payable at its

  1. Net income was $469,000.
  2. Issued common stock for $72,000 cash.
  3. Paid cash dividend of $15,000.
  4. Paid $130,000 cash to settle a note payable at its $130,000 maturity value.
  5. Paid $116,000 cash to acquire its treasury stock.
  6. Purchased equipment for $87,000 cash.

Use the above information to determine this company's cash flows from financing activities.

image text in transcribed

image text in transcribed

Cash flows from financing activities Cash flows from financing activities Paid cash dividend Purchased treasury stock Repaid note payable Sale of common stock Sale of treasury stock

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

Auditing Explained A Practical Guide For Managers

Authors: John Dunn

1st Edition

0749405619, 978-0749405618

More Books

Students also viewed these Accounting questions

Question

Understanding Groups

Answered: 1 week ago