Required information Exercise 21-13 (Static) Identifying cash flows from investing activities and financing activities [LO21-5, 21-6] [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information: ($ in millions) Fair value of shares issued in a stock dividend $ 65 Payment for the early extinguishment of long-term bonds (book value: $97 million) 102 Proceeds from the sale of treasury stock (cost: $17 million) 22 Gain on sale of land 4 Proceeds from sale of land 12 Purchase of Microsoft common stock 160 Declaration of cash dividends 44 Distribution of cash dividends declared in 2023 40 Exercise 21-13 (Static) Part 1 Required: 1. In Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).
Required information Exercise 21-13 (Static) Identifying cash flows from investing activities and financing activities [LO21-5, 21-6] [The following information applies to the questions displayed below.] In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information: ($ in millions) Fair value of shares issued in a stock dividend $ 65 Payment for the early extinguishment of long-term bonds (book value: $97 million) 102 Proceeds from the sale of treasury stock (cost: $17 million) 22 Gain on sale of land 4 Proceeds from sale of land 12 Purchase of Microsoft common stock 160 Declaration of cash dividends 44 Distribution of cash dividends declared in 2023 40 Exercise 21-13 (Static) Part 1 Required: 1. In Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2024? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
Exercise 21-13 (Static) Identifying cash flows from investing activities and financing activities [LO21-5, 21-6]
[The following information applies to the questions displayed below.]
In preparation for developing its statement of cash flows for the year ended December 31, 2024, Rapid Pac, Incorporated, collected the following information:
| ($ in millions) | |
|---|---|
| Fair value of shares issued in a stock dividend | $ 65 |
| Payment for the early extinguishment of long-term bonds (book value: $97 million) | 102 |
| Proceeds from the sale of |
22 |
| Gain on sale of land | 4 |
| Proceeds from sale of land | 12 |
| Purchase of Microsoft common stock | 160 |
| Declaration of cash dividends | 44 |
| Distribution of cash dividends declared in 2023 | 40 |
Exercise 21-13 (Static) Part 1
Required:
1. In Rapid Pac’s statement of cash flows, what were net
Note:
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