Question
Russell Corporation had the following activities: Recorded depreciation of $5,000. Received cash from the sale of common stock, $20,000. Purchased $10,000 of
Russell Corporation had the following activities:
• Recorded depreciation of $5,000.
• Received cash from the sale of common stock, $20,000.
• Purchased $10,000 of equipment with cash.
• Paid $4,000 income tax.
• Received $8,000 cash for the sale of an asset.
• Paid cash dividends, $10,000.
What is the amount of net cash flows from (used for) financing activities?
a. $25,000
b. $10,000
c. $(14,000)
d. None of these choices are correct.
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Accounting Texts and Cases
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
13th edition
1259097129, 978-0073379593, 007337959X, 978-1259097126
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