ezto.mheducation.com Assignments: ACC 201.1001 Financial Accounting Chegg Study

Question

ezto.mheducation.com Assignments: ACC 201.1001 Financial Accounting Chegg Study | Guided Solutions and Study Help | Ch value: 1.00 points MC Qu.115 A corporation prepared its statement... A corporation prepared its statement of cash flows for the year. The following information is taken from that statement Net cash provided by operating activities Net cash provided by investing activities Cash balance, beginning of year Cash balance, end of year $29,500 $5,700 $7,300 $12100 What is the amount of net cash provided by (used in) financing activities? O ($4,800) o $30,400 ($30,400) O $4,800

Explanation / Answer

Net Increase in Cash & cash equivalent for the year = Cash balance end of year - Cash balance beginning of year

= $12,100 - $7,300 = $4,800

we know that ,

cash flow from operating activities + cash flow from investing activities + cash flow from financing activities =

Net Increase in Cash & cash equivalent for the year

or, $29,500 + $5,700 + cash flow from financing activities = $4,800

Cash flow from financing activities = $4,800 - $35,200 = ($30,400) (ie option c)

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