Exercise 14-12A (Algo) Determining cash flows from financing activities LO 14-4 On January 1, Year 1, Fanning Company had a balance of $114,000 in its Common Stock account. During Year 1, Fanning paid $11,800 to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December 31, Year 1, was $133,000. Assume that the common stock is no par stock. Required a. Determine the cash inflow from the issue of common stock. b. Prepare the financing activities section of the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Required A Required B Determine the cash inflow from the issue of common stock. Common stock issued Required B >
Exercise 14-12A (Algo) Determining cash flows from financing activities LO 14-4 On January 1, Year 1, Fanning Company had a balance of $114,000 in its Common Stock account. During Year 1, Fanning paid $11,800 to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December 31, Year 1, was $133,000. Assume that the common stock is no par stock. Required a. Determine the cash inflow from the issue of common stock. b. Prepare the financing activities section of the Year 1 statement of cash flows. Complete this question by entering your answers in the tabs below. Required A Required B Determine the cash inflow from the issue of common stock. Common stock issued Required B >
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 5PA: Statement of cash flowsdirect method applied to PR 13-1A The comparative balance sheet of Livers...
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![Exercise 14-12A (Algo) Determining cash flows from financing activities LO 14-4
On January 1, Year 1, Fanning Company had a balance of $114,000 in its Common Stock account. During Year 1, Fanning paid $11,800 to
purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on
December 31, Year 1, was $133,000. Assume that the common stock is no par stock.
Required
a. Determine the cash inflow from the issue of common stock.
b. Prepare the financing activities section of the Year 1 statement of cash flows.
Complete this question by entering your answers in the tabs below.
Required A Required B
Determine the cash inflow from the issue of common stock.
Common stock issued
Required B >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a5da057-ce9b-425a-b09e-69b2cba3ebaa%2F54be15fb-93b9-4165-b30d-17bac5cea452%2Fnhf8os6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 14-12A (Algo) Determining cash flows from financing activities LO 14-4
On January 1, Year 1, Fanning Company had a balance of $114,000 in its Common Stock account. During Year 1, Fanning paid $11,800 to
purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on
December 31, Year 1, was $133,000. Assume that the common stock is no par stock.
Required
a. Determine the cash inflow from the issue of common stock.
b. Prepare the financing activities section of the Year 1 statement of cash flows.
Complete this question by entering your answers in the tabs below.
Required A Required B
Determine the cash inflow from the issue of common stock.
Common stock issued
Required B >
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