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?
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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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
| Net cash choose provided or used providedused by financing activities | $enter a dollar amount |
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