Homework Help is Here – Start Your Trial Now!
Business
Accounting
a. Net income was $468,000. b. Issued common stock for $78,000 cash. c. Paid cash dividend of $16,000. d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value. e. Paid $117,000 cash to acquire its treasury stock. f. Purchased equipment for $89,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from financing activities

a. Net income was $468,000. b. Issued common stock for $78,000 cash. c. Paid cash dividend of $16,000. d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value. e. Paid $117,000 cash to acquire its treasury stock. f. Purchased equipment for $89,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from financing activities

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 27BE
See similar textbooks
icon
Related questions
Topic Video
Question

Very important please be correct thank you

a. Net income was $468,000. b. Issued common stock for $78,000 cash. c. Paid cash dividend of $16,000. d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value. e. Paid $117,000 cash to acquire its treasury stock. f. Purchased equipment for $89,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from financing activities
Transcribed Image Text:a. Net income was $468,000. b. Issued common stock for $78,000 cash. c. Paid cash dividend of $16,000. d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value. e. Paid $117,000 cash to acquire its treasury stock. f. Purchased equipment for $89,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from financing activities
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

Is this what it is supposed to be?

a. Net income was $468,000. b. Issued common stock for $78,000 cash. c. Paid cash dividend of $16,000. d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value. e. Paid $117,000 cash to acquire its treasury stock. f. Purchased equipment for $89,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from financing activities Issued common stock Paid cash dividend Repaid long-term notes payable Purchased treasury stock Cash paid for equipment Net cash used in financing activities $ 78,000 (16,000) (105,000) (117,000) (89,000) $ (249,000)
Transcribed Image Text:a. Net income was $468,000. b. Issued common stock for $78,000 cash. c. Paid cash dividend of $16,000. d. Paid $105,000 cash to settle a long-term notes payable at its $105,000 maturity value. e. Paid $117,000 cash to acquire its treasury stock. f. Purchased equipment for $89,000 cash. Use the above information to determine cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Statement of Cash Flows (partial) Cash flows from financing activities Issued common stock Paid cash dividend Repaid long-term notes payable Purchased treasury stock Cash paid for equipment Net cash used in financing activities $ 78,000 (16,000) (105,000) (117,000) (89,000) $ (249,000)
Solution
Bartleby Expert
SEE SOLUTION
Knowledge Booster
Accounting Equation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS