Carrying value of convertible preferred stock in Stout, converted into common shares of Stout $ 540,000 Payment in 2021 of cash dividend declared in 2020 to preferred shareholders 279,000 Payment for the early retirement of long-term bonds payable (carrying amount $3,930,000) 3,975,000 Proceeds from the sale of treasury stock (on books at cost of $387,000) 450,000 The amount of net cash used in financing activities to appear in Stout's statement of cash flows for 2021 should be $3,264,000. $2,985,000. $3,822,000. $3,804,000.
Carrying value of convertible preferred stock in Stout, converted into common shares of Stout $ 540,000 Payment in 2021 of cash dividend declared in 2020 to preferred shareholders 279,000 Payment for the early retirement of long-term bonds payable (carrying amount $3,930,000) 3,975,000 Proceeds from the sale of treasury stock (on books at cost of $387,000) 450,000 The amount of net cash used in financing activities to appear in Stout's statement of cash flows for 2021 should be $3,264,000. $2,985,000. $3,822,000. $3,804,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 46
During 2021, Stout Inc. had the following activities related to its financial operations:
Carrying value of convertiblepreferred stock in Stout,
Payment in 2021 of cash dividend declared in 2020 to
Payment for the early retirement of long-term bonds payable
The amount of net cash used in financing activities to appear in Stout's statement ofcash flows for 2021 should be
Carrying value of convertible
| | converted into common shares of Stout | $ 540,000 |
| | preferred shareholders | 279,000 |
| | (carrying amount $3,930,000) | 3,975,000 |
| Proceeds from the sale of |
450,000 |
The amount of net cash used in financing activities to appear in Stout's statement of
|
$3,264,000.
|
||
|
$2,985,000.
|
||
|
$3,822,000.
|
||
|
$3,804,000.
|
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