AWQ Inc AWQ INC. WAS INCORPORATED TWO YEARS AGO BY ISSUING 5,000SHARES OF COMMON STOCK AT $400 EACH AND BORROWING $240,000FROM A BANK ON A LONG-TERM NOTE. LAST YEAR, AWQ REPORTED NETINCOME OF $20,000 AND PAID A CASH DIVIDEND OF $1,800. LAST YEAR,THE COMPANY ALSO BORROWED AN ADDITIONAL $320,000 FROM THEBANK. WHAT WAS THE TOTAL ASSETS ON AWQ'S BALANCE SHEET ATTHE END OF THE YEAR LAST YEAR?

Concept of Common StockCommon stock represents ownership in a corporation and gives shareholders…

Answered: AWQ INC. WAS INCORPORATED TWO YEARS AGO…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 7DQ

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A company issues $1.1 million of new stock and pays $201,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.51 million in a new bond issue and paid off existing bonds with a face value of $2.05 million. The company bought 501 of another company's $1,010 bonds at a $101,000 premium. The net cash flow provided by financing activities is: A) An outflow of $201,000. B) An inflow of $359,000. C) An inflow of $540,000. D) An outflow of $101,000
A company issues $1.1 million of new stock and pays $201,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.51 million in a new bond issue and paid off existing bonds with a face value of $2.05 million. The company bought 501 of another company's $1,010 bonds at a $101,000 premium. The net cash flow provided by financing activities is: A) An outflow of $201,000. B) An inflow of $359,000. C) An inflow of $540,000. D) An outflow of $101,000 G
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