a. Net income was $477,000. b. Issued common stock for $71,000 cash. c. Paid cash dividend of $18,000. d. Paid $120,000 cash to settle a long-term notes payable at its $120,000 maturity value. e. Paid $120,000 cash to acquire its treasury stock. f. Purchased equipment for $90,000 cash. Use the above information to determine cash flows from financing activities. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from financing activities
a. Net income was $477,000. b. Issued common stock for $71,000 cash. c. Paid cash dividend of $18,000. d. Paid $120,000 cash to settle a long-term notes payable at its $120,000 maturity value. e. Paid $120,000 cash to acquire its treasury stock. f. Purchased equipment for $90,000 cash. Use the above information to determine cash flows from financing activities. Note: Amounts to be deducted should be indicated with a minus sign. Statement of Cash Flows (partial) Cash flows from financing activities
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 27BE
Related questions
Question
![a. Net income was $477,000.
b. Issued common stock for $71,000 cash.
c. Paid cash dividend of $18,000.
d. Paid $120,000 cash to settle a long-term notes payable at its $120,000 maturity value.
e. Paid $120,000 cash to acquire its treasury stock.
f. Purchased equipment for $90,000 cash.
Use the above information to determine cash flows from financing activities.
Note: Amounts to be deducted should be indicated with a minus sign.
Statement of Cash Flows (partial)
Cash flows from financing activities](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc1dbc87c-2169-4896-a66f-9c36d81636e1%2F278f302e-aa9f-46df-ad2a-52a11721cb4a%2Fdd0gdp4_processed.png&w=3840&q=75)
Transcribed Image Text:a. Net income was $477,000.
b. Issued common stock for $71,000 cash.
c. Paid cash dividend of $18,000.
d. Paid $120,000 cash to settle a long-term notes payable at its $120,000 maturity value.
e. Paid $120,000 cash to acquire its treasury stock.
f. Purchased equipment for $90,000 cash.
Use the above information to determine cash flows from financing activities.
Note: Amounts to be deducted should be indicated with a minus sign.
Statement of Cash Flows (partial)
Cash flows from financing activities
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