The following T-account is a summary of the cash account of Sandhill Company.Cash (Summary Form)Balance, Jan. 119,200 Receipts from customers873,600Payments for goods480,000Dividends on stock investments14,400Payments for operating expenses336,000Proceeds from sale of equipment86,400Interest paid24,000Proceeds from issuance of Taxes paid19,200 bonds payable720,000Dividends paid96,000Balance, Dec. 31758,400 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)Net cash choose provided or used providedused by financing activities $enter a dollar amount

Cash flows from financing activities: Financing activities refer to the activities carried out by a…

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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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The following T-account is a summary of the cash account of Sandhill Company.

Cash (Summary Form)
Balance, Jan. 1	19,200
Receipts from customers	873,600	Payments for goods	480,000
Dividends on stock investments	14,400	Payments for operating expenses	336,000
Proceeds from sale of equipment	86,400	Interest paid	24,000
Proceeds from issuance of		Taxes paid	19,200
bonds payable	720,000	Dividends paid	96,000
Balance, Dec. 31	758,400

What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Net cash choose provided or used providedused by financing activities

$enter a dollar amount

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