The following transactions occurred at Peter's Third Company in 2022. 1. The company reacquired as treasury stock 16,000 shares of its outstanding common stock, paying a total of $48,000 for the shares. 2 On November 30, the company borrowed $240,000 from the bank, signing a 90-day, 8 percent note payable. Required: Compute the company's net cash flow from financing activities for the year. (Amounts to be deducted should be indicated with a minus sign.)
The following transactions occurred at Peter's Third Company in 2022. 1. The company reacquired as treasury stock 16,000 shares of its outstanding common stock, paying a total of $48,000 for the shares. 2 On November 30, the company borrowed $240,000 from the bank, signing a 90-day, 8 percent note payable. Required: Compute the company's net cash flow from financing activities for the year. (Amounts to be deducted should be indicated with a minus sign.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The following transactions occurred at Peter's Third Company in 2022.
1. The company reacquired as treasury stock 16,000 shares of its outstanding common stock, paying a total of $48,000 for the shares.
2 On November 30, the company borrowed $240,000 from the bank, signing a 90-day, 8 percent note payable.
Required:
Compute the company's net cash flow from financing activities for the year. (Amounts to be deducted should be indicated with a
minus sign.)
Answer is not complete.
Cash flows from financing activities
Proceeds from short term note payable
Purchase of new building
Purchase of treasury stock
Cash provided by financing activities
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