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Question: In the Tabb Company, Treasury Stock increased $15,000 from a cash purchase, and Retained Earnings increased $40,000 as a result of net income of $62,000 and cash dividends paid of $22,000. Net cash used by financing activities is: a. $15,000. b. $22,000. c. $55,000. d. $37,000.

Question: In the Tabb Company, Treasury Stock increased $15,000 from a cash purchase, and Retained Earnings increased $40,000 as a result of net income of $62,000 and cash dividends paid of $22,000. Net cash used by financing activities is: a. $15,000. b. $22,000. c. $55,000. d. $37,000.

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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Question: In the Tabb Company, Treasury Stock increased $15,000 from a cash purchase, and Retained Earnings increased $40,000 as a result of net income of $62,000 and cash dividends paid of $22,000. Net cash used by financing activities is: a. $15,000. b. $22,000. c. $55,000. d. $37,000.
Transcribed Image Text:Question: In the Tabb Company, Treasury Stock increased $15,000 from a cash purchase, and Retained Earnings increased $40,000 as a result of net income of $62,000 and cash dividends paid of $22,000. Net cash used by financing activities is: a. $15,000. b. $22,000. c. $55,000. d. $37,000.
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