Blossom Enterprises engaged in the following activities during the year: Prepare

Question

Blossom Enterprises engaged in the following activities during the year:

Prepare the cash flows provided by financing activities section of Blossom Enterprises’ statement of cash flows. (Show amounts that decrease cash flow with either a - sign, e.g. -15,000 or in parentheses, e.g. (15,000).)

• Borrowed $50,200 from South World Bank • Declared and paid dividends on common stock of $13,300 • Declared preferred stock dividends of $10,700 • Repaid the $50,200 loan from South World Bank • Borrowed $118,300 from City Financial Group

Explanation / Answer

Answer

The cash flows provided by financing activities section of Blossom Enterprises’ statement of cash flows:

Declared preferred stock dividends of $10,700 Is not cash activities. Hence not include in cas flow

Particulars Amount Borrowed from South World Bank $50200 paid dividends on common stock ($13300) Repaid the loan from South World Bank ($50200) Borrowed from City Financial Group $118300 Cash flow from financing activities $105000

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