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Assume the following excerpts from a company's balance sheet: Beginning Balance Ending Balance Bonds payable Common stock Retained earnings $ 650,000 $ 875,000 $ 950,000 $ 950,000 $ 450,000 $ 477,500 During the year, the company's net income was $195,000 and it did not retire any bonds or issue or repurchase any common stock.

Assume the following excerpts from a company's balance sheet: Beginning Balance Ending Balance Bonds payable Common stock Retained earnings $ 650,000 $ 875,000 $ 950,000 $ 950,000 $ 450,000 $ 477,500 During the year, the company's net income was $195,000 and it did not retire any bonds or issue or repurchase any common stock.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Assume the following excerpts from a company's balance sheet: Bonds payable Common stock Beginning Balance Ending Balance $ 875,000 $ 650,000 $ 950,000 $ 950,000 $ 450,000 $ 477,500 Retained earnings During the year, the company's net income was $195,000 and it did not retire any bonds or issue or repurchase any common stock. Required: Calculate the net cash provided by (used in) financing activities. Net cash provided by financing activities _
Transcribed Image Text:Assume the following excerpts from a company's balance sheet: Bonds payable Common stock Beginning Balance Ending Balance $ 875,000 $ 650,000 $ 950,000 $ 950,000 $ 450,000 $ 477,500 Retained earnings During the year, the company's net income was $195,000 and it did not retire any bonds or issue or repurchase any common stock. Required: Calculate the net cash provided by (used in) financing activities. Net cash provided by financing activities _
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