Question
The following transactions occurred at Indy Inc. in 2022. Holders of $140,000 par-value 3 percent bonds surrendered the bonds for redemption and were paid $146,000
The following transactions occurred at Indy Inc. in 2022. Holders of $140,000 par-value 3 percent bonds surrendered the bonds for redemption and were paid $146,000 in cash. The unamortized discount on these bonds as of the date of redemption was $1,360. Cash interest of $33,100 was paid on bonds during the year. The bond discount amortized was $340. Cash dividends of $44,000 were paid on common stock during the year. Required: Compute the company's net cash flow from financing activities for the year. (Amounts to be deducted should be indicated with a minus sign.)
The following transactions occurred at Indy Inc. in 2022. 1. Holders of $140,000 par-value 3 percent bonds surrendered the bonds for redemption and were paid $146,000 in cash. The unamortized discount on these bonds as of the date of remption was $1,360. 2. Cash interest of $33,100 was paid on bonds during the year. The bond discount amortized was $340. 3. Cash dividends of $44,000 were paid on common stock during the year. Required: Compute the company's net cash flow from financing activities for the year. (Amounts to be deducted should be indicated with a minus sign.)
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