a. Net income was $468,000. b. Issued common stock for $78,000 cash. c. Paid cash dividend of $16,000. d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value. e. Paid $117,000 cash to acquire its treasury stock. f. Purchased equipment for $89,000 cash. Use the above information to determine cash flows from financing activities. (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 $468,000. b. Issued common stock for $78,000 cash. c. Paid cash dividend of $16,000. d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value. e. Paid $117,000 cash to acquire its treasury stock. f. Purchased equipment for $89,000 cash. Use the above information to determine cash flows from financing activities. (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
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![a. Net income was $468,000.
b. Issued common stock for $78,000 cash.
c. Paid cash dividend of $16,000.
d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value.
e. Paid $117,000 cash to acquire its treasury stock.
f. Purchased equipment for $89,000 cash.
Use the above information to determine cash flows from financing activities. (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%2Ff2bfa172-bfc6-4a2e-9589-90b7bd2d30c6%2F5aadd86c-8d22-49a2-8bb8-1caeb801ac4c%2Fh8ipc1v_processed.png&w=3840&q=75)
Transcribed Image Text:a. Net income was $468,000.
b. Issued common stock for $78,000 cash.
c. Paid cash dividend of $16,000.
d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value.
e. Paid $117,000 cash to acquire its treasury stock.
f. Purchased equipment for $89,000 cash.
Use the above information to determine cash flows from financing activities. (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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Is this what it is supposed to be?
![a. Net income was $468,000.
b. Issued common stock for $78,000 cash.
c. Paid cash dividend of $16,000.
d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value.
e. Paid $117,000 cash to acquire its treasury stock.
f. Purchased equipment for $89,000 cash.
Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be
indicated with a minus sign.)
Statement of Cash Flows (partial)
Cash flows from financing activities
Issued common stock
Paid cash dividend
Repaid long-term notes payable
Purchased treasury stock
Cash paid for equipment
Net cash used in financing activities
$
78,000
(16,000)
(105,000)
(117,000)
(89,000)
$ (249,000)](https://content.bartleby.com/qna-images/question/f2bfa172-bfc6-4a2e-9589-90b7bd2d30c6/ad86f333-2bd0-44a1-b862-cc83b45ace71/j8vfp77_thumbnail.png)
Transcribed Image Text:a. Net income was $468,000.
b. Issued common stock for $78,000 cash.
c. Paid cash dividend of $16,000.
d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value.
e. Paid $117,000 cash to acquire its treasury stock.
f. Purchased equipment for $89,000 cash.
Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be
indicated with a minus sign.)
Statement of Cash Flows (partial)
Cash flows from financing activities
Issued common stock
Paid cash dividend
Repaid long-term notes payable
Purchased treasury stock
Cash paid for equipment
Net cash used in financing activities
$
78,000
(16,000)
(105,000)
(117,000)
(89,000)
$ (249,000)
Solution
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