Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of $419,000 was sold for $519,000. b. Additional common stock was issued for $179,000. c. Dristell purchased its own common stock as treasury stock at a cost of $84,500. d. Land was acquired by issuing a 6%, 10-year, $769,000 note payable to the seller. e. A dividend of $59,000 was paid to shareholders. f. An investment in Fleet Corporation's common stock was made for $139,000. g. New equipment was purchased for $74,500. h. A $99,500 note payable issued three years ago was paid in full. i. A loan for $119,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% inter within 18 months. Required: Calculate net cash flows from financing activities. (Cash outflows should be indicated with a minus sign.) DRISTELL INCORPORATED ||||
Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of $419,000 was sold for $519,000. b. Additional common stock was issued for $179,000. c. Dristell purchased its own common stock as treasury stock at a cost of $84,500. d. Land was acquired by issuing a 6%, 10-year, $769,000 note payable to the seller. e. A dividend of $59,000 was paid to shareholders. f. An investment in Fleet Corporation's common stock was made for $139,000. g. New equipment was purchased for $74,500. h. A $99,500 note payable issued three years ago was paid in full. i. A loan for $119,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% inter within 18 months. Required: Calculate net cash flows from financing activities. (Cash outflows should be indicated with a minus sign.) DRISTELL INCORPORATED ||||
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise):
a. A building with a book value of $419,000 was sold for $519,000.
b. Additional common stock was issued for $179,000.
c. Dristell purchased its own common stock as treasury stock at a cost of $84,500.
d. Land was acquired by issuing a 6%, 10-year, $769,000 note payable to the seller.
e. A dividend of $59,000 was paid to shareholders.
f. An investment in Fleet Corporation's common stock was made for $139,000.
g. New equipment was purchased for $74,500.
h. A $99,500 note payable issued three years ago was paid in full.
i. A loan for $119,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest
within 18 months.
Required:
Calculate net cash flows from financing activities. (Cash outflows should be indicated with a minus sign.)
DRISTELL INCORPORATED
Statement of Cash Flows (partial)
For the Year Ended December 31, 2024
Cash flows from financing activities:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4f79f795-24e5-4069-abfd-8d3018dfbe2b%2Fea0ca112-ea37-4789-b81a-6d932cfd028f%2F6s7vr7c_processed.png&w=3840&q=75)
Transcribed Image Text:Dristell Incorporated had the following activities during the year (all transactions are for cash unless stated otherwise):
a. A building with a book value of $419,000 was sold for $519,000.
b. Additional common stock was issued for $179,000.
c. Dristell purchased its own common stock as treasury stock at a cost of $84,500.
d. Land was acquired by issuing a 6%, 10-year, $769,000 note payable to the seller.
e. A dividend of $59,000 was paid to shareholders.
f. An investment in Fleet Corporation's common stock was made for $139,000.
g. New equipment was purchased for $74,500.
h. A $99,500 note payable issued three years ago was paid in full.
i. A loan for $119,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest
within 18 months.
Required:
Calculate net cash flows from financing activities. (Cash outflows should be indicated with a minus sign.)
DRISTELL INCORPORATED
Statement of Cash Flows (partial)
For the Year Ended December 31, 2024
Cash flows from financing activities:
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