In preparing its cash flow statement for the year ended December 31, 2016, Green
ID: 2474629 • Letter: I
Question
In preparing its cash flow statement for the year ended December 31, 2016, Green Co. gathered the following data:
Gain on sale of land $12,000
Proceeds from sale of land 20,000
Purchase of Black, Inc., bonds (face value $200,000) 360,000
Amortization of bond discount 4,000
Cash dividends declared 90,000
Cash dividends paid 76,000
Proceeds from sales of Green Co. common stock 150,000
In its December 31, 2016, statement of cash flows, what amount should Green report as net cash from financing activities?
$40,000.
$54,000.
$60,000.
$74,000.
Explanation / Answer
Cash dividends paid -76000 Proceeds from sales of Green Co. common stock 1,50,000 cash flow From Finanace activity 74,000