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Cash flow from/used in financing activities was:

Cash flow from/used in financing activities was:

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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ANSWER = CASH FLOW IS $500

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XYZ Corp. reported the following activity and balance sheet data for fiscal 2019: • The company declared cash dividends of $90. • The company issued bonds to raise cash in order to redeem bonds with a face value of $300 and to raise additional capital for expansion. • The company raised cash by issuing 50 shares of stock. • The company purchased treasury shares at a cost of $90. • Fiscal 2019 net income was $220. Dividends Payable Bonds Payable Common Stock, $1 Paid In Capital Retained Earnings Treasury Stock 12/31/19 30 1,700 550 1,770 1,670 140 1/1/19 20 1,500 500 1,350 1,540 50 Cash flow from/used in financing activities was: Enter a positive number for a cash inflow or a negative number for a cash outflow.
Transcribed Image Text:XYZ Corp. reported the following activity and balance sheet data for fiscal 2019: • The company declared cash dividends of $90. • The company issued bonds to raise cash in order to redeem bonds with a face value of $300 and to raise additional capital for expansion. • The company raised cash by issuing 50 shares of stock. • The company purchased treasury shares at a cost of $90. • Fiscal 2019 net income was $220. Dividends Payable Bonds Payable Common Stock, $1 Paid In Capital Retained Earnings Treasury Stock 12/31/19 30 1,700 550 1,770 1,670 140 1/1/19 20 1,500 500 1,350 1,540 50 Cash flow from/used in financing activities was: Enter a positive number for a cash inflow or a negative number for a cash outflow.
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