Exercise 13-10 Sandhill Enterprises engaged in the following activities during t

Question

Exercise 13-10

Sandhill Enterprises engaged in the following activities during the year:

Prepare the cash flows provided by financing activities section of Sandhill 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 $55,200 from South World Bank • Declared and paid dividends on common stock of $15,800 • Declared preferred stock dividends of $11,400 • Repaid the $55,200 loan from South World Bank • Borrowed $110,500 from City Financial Group

Explanation / Answer

Cash flows from financing activities Loan proceeds $    55,200 Common stock cash dividend paid $ (15,800) Preferred stock cash dividend paid $ (11,400) Loan repayment $ (55,200) Loan proceeds $ 110,500 Net cash flow provided by financing activities $ 83,300

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