During 2021, Bramble Corp. had the following activities related to its financial operations: Carrying value of convertible preferred stock in Bramble, converted into common shares of Bramble $ 539000 Payment in 2021 of cash dividend declared in 2020 to preferred shareholders 279000 Payment for the early retirement of long-term bonds payable (carrying amount $3928000) 3973000 Proceeds from the sale of treasury stock (on books at cost of $390000) 453000The amount of net cash used in financing activities to appear in Bramble's statement of cash flows for 2021 should be$3799000.$3260000.$3817000.$2981000.

The cash flow statement represents the cash inflow and outflow due to the operating, financing, and…

Answered: uring 2021, Bramble Corp. had the…

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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During 2021, Bramble Corp. had the following activities related to its financial operations:

	Carrying value of convertible preferred stock in Bramble, converted into common shares of Bramble		$ 539000
	Payment in 2021 of cash dividend declared in 2020 to preferred shareholders		279000
	Payment for the early retirement of long-term bonds payable (carrying amount $3928000)		3973000
	Proceeds from the sale of treasury stock (on books at cost of $390000)		453000

The amount of net cash used in financing activities to appear in Bramble's statement of cash flows for 2021 should be

$3799000.

$3260000.

$3817000.

$2981000.

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