In preparing a company\'s statement of cash flows for the year just ended, the f
ID: 2458695 • Letter: I
Question
In preparing a company's statement of cash flows for the year just ended, the following information is available:
Net cash flows from financing activities for the year were:
a) $147,000 of net cash used.
b) $26,000 of net cash used.
c) $347,000 of net cash used.
d) $51,000 of net cash used.
e) $340,000 of net cash used.
Loss on the sale of equipment $14,000 Purchase of equipment $225,000 Proceeds from the sale of equipment $106,000 Repayment of outstanding bonds $87,000 Purchase of treasury stock $25,000 Issuance of common stock $96,000 Purchase of land $115,000 Increase in accounts receivable during the year $33,000 Decrease in accounts payable during the year $75,000 Payment of cash dividents $35,000Explanation / Answer
d) $51,000 of net cash used.
Net cash flows from financing activities for the year were:
Cash Flows from Financing Activities Amount Issuance of common stock $96,000 Repayment of outstanding bonds -$87,000 Purchase of treasury stock -$25,000 Payment of cash dividents -$35,000 Net cash flows from financing activities -$51,000