Consider the following events: 25,000 shares of preferred stock, cumulative, 5%, $40 par was issued for $60/share. • The annual cash dividend was declared and paid to the above preferred stock. • The company purchased 12,000 shares of common stock at $68 per share to be held as Treasury stock. • Interest of $32,000 was paid to bondholders. • Bonds Payable with a par value of $400,000 were retired at $432,000. Compute the net cash flow from financing activities (parentheses indicate an outflow).
Consider the following events: 25,000 shares of preferred stock, cumulative, 5%, $40 par was issued for $60/share. • The annual cash dividend was declared and paid to the above preferred stock. • The company purchased 12,000 shares of common stock at $68 per share to be held as Treasury stock. • Interest of $32,000 was paid to bondholders. • Bonds Payable with a par value of $400,000 were retired at $432,000. Compute the net cash flow from financing activities (parentheses indicate an outflow).
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter15: Contributed Capital
Section: Chapter Questions
Problem 16E: Contributed Capital Adams Companys records provide the following information on December 31, 2019:...
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![Consider the following events:
25,000 shares of preferred stock, cumulative, 5%, $40 par was issued for $60/share.
The annual cash dividend was declared and paid to the above preferred stock.
The company purchased 12,000 shares of common stock at $68 per share to be held as Treasury stock.
Interest of $32,000 was paid to bondholders.
Bonds Payable with a par value of $400,000 were retired at $432,000.
Compute the net cash flow from financing activities (parentheses indicate an outflow).](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8f4bcdd8-a717-4532-ba35-56886460a8c6%2F76a286ec-2aa7-4f1c-b9a4-644d4fc92786%2Fq9s608j_processed.png&w=3840&q=75)
Transcribed Image Text:Consider the following events:
25,000 shares of preferred stock, cumulative, 5%, $40 par was issued for $60/share.
The annual cash dividend was declared and paid to the above preferred stock.
The company purchased 12,000 shares of common stock at $68 per share to be held as Treasury stock.
Interest of $32,000 was paid to bondholders.
Bonds Payable with a par value of $400,000 were retired at $432,000.
Compute the net cash flow from financing activities (parentheses indicate an outflow).
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