8. Use the following information to determine the net cash flow from financing f

Question

8. Use the following information to determine the net cash flow from financing for the period 1) issued stock for $30,000 2) borrowed $45,000 from its bank 3) provided services for $32,000 cash 4) paid back $10,000 of the bank loan 5) paid employees' salaries, $2,000 6) purchased supplies for $5,000 7) paid $3,000 dividends to stockholders A. $75,000 B. $62,000 C. $70.000 D. S60,000 E. $72,000 Show your work for calculations. If you show no work, I may ask explain how you got your answers. show you to come to my office to

Explanation / Answer

Solution:

Hence option B is correct.

Statement of Cash Flows (Partial) Particulars Details Amount Cash Flow from Financing Activities: Proceed from issue of common stock $30,000.00 Proceed from borrowings $45,000.00 Repayment of bank loan -$10,000.00 Dividend Paid -$3,000.00 Net Cash Provided by financing activities $62,000.00

Related Questions

Navigate

• Browse (All)
• Browse 8
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.