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The following summary transactions occurred during the year for Daisy. Cash received from: Collections from customers $395,000 Interest on notes receivable 13,500 Collection of notes
The following summary transactions occurred during the year for Daisy.
Cash received from: | |
---|---|
Collections from customers | $395,000 |
Interest on notes receivable | 13,500 |
Collection of notes receivable | 65,000 |
Sale of investments | 45,000 |
Issuance of notes payable | 115,000 |
Cash paid for: | |
Purchase of inventory | 175,000 |
Interest on notes payable | 12,500 |
Purchase of equipment | 100,000 |
Salaries to employees | 105,000 |
Payment of notes payable | 32,500 |
Dividends to shareholders | 1,000 |
Required: Calculate net cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.)
DAISY COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from financing activities: Net cash flows from financing activitiesStep by Step Solution
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