The following summary transactions occurred during the year for Marigold. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $400,000 16,000 70,000 50,000 120,000 180,000 15,000 105,000 110,000 35,000 1,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted shou MARIGOLD COMPUTER Statement of Cash Flows (partial)
The following summary transactions occurred during the year for Marigold. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $400,000 16,000 70,000 50,000 120,000 180,000 15,000 105,000 110,000 35,000 1,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted shou MARIGOLD COMPUTER Statement of Cash Flows (partial)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer completely and correctly with explanation computation formula steps answer in text no copy paste show explanation and computation clearly for numbers provide full working for all steps with explanation answer in text form

Transcribed Image Text:The following summary transactions occurred during the year for Marigold.
Cash received from:
Collections from customers
Interest on notes receivable
Collection of notes receivable
Sale of investments
Issuance of notes payable
Cash paid for:
Purchase of inventory
Interest on notes payable
Purchase of equipment
Salaries to employees
Payment of notes payable
Dividends to shareholders
Required:
Calculate net cash flows from financing activities. (Amounts to be deducted shou
Cash flows from financing activities:
$400,000
16,000
70,000
50,000
120,000
MARIGOLD COMPUTER
Statement of Cash Flows (partial)
For the Year Ended December 31, 2024
Collection of notes receivable
Collections from customers
Dividends paid to shareholders
Interest on notes payable
180,000
15,000
105,000
- 110,000
35,000
1,000
身
< Prev
4 of 5
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education