The following summary transactions occurred during the year for Petunia. 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 $384,000 8,000 54,000 34,000 104,000 164,000 7,000 89,000 94,000 27,000 1,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted

The following summary transactions occurred during the year for Petunia. 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 $384,000 8,000 54,000 34,000 104,000 164,000 7,000 89,000 94,000 27,000 1,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

The following summary transactions occurred during the year for Petunia.
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
$384,000
8,000
54,000
34,000
104,000
Required:
Calculate net cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.)
Cash flows from financing activities:
164,000
7,000
89,000
94,000
27,000
1,000
PETUNIA COMPUTER
Statement of Cash Flows (partial)
For the Year Ended December 31, 2024
Net cash flows from financing activities

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