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In the statement of cash flows for the current year, what amount should be reported as net cash used in financing activities? (Indicate if provided or used)

In the statement of cash flows for the current year, what amount should be reported as net cash used in financing activities? (Indicate if provided or used)

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 6MCQ: Ames Corporation repurchases 10,000 shares of its common stock for $12 per share. The shares were...
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11. During the current year, XYZ Corporation had the following activities related to financial operations: 7,500,000 Payment for the early retirement of bonds payable (carrying amount, P7,400,000) Distribution of cash dividend in the current year to preferred shareholders (declared in prior year) 620,000 5,200,000 Proceeds from sale of ordinary shares Proceeds from reissuance of treasury shares (cost, P860,000) 950,000 In the statement of cash flows for the current year, what amount should be reported as net cash used in financing activities? (Indicate if provided or used)
Transcribed Image Text:11. During the current year, XYZ Corporation had the following activities related to financial operations: 7,500,000 Payment for the early retirement of bonds payable (carrying amount, P7,400,000) Distribution of cash dividend in the current year to preferred shareholders (declared in prior year) 620,000 5,200,000 Proceeds from sale of ordinary shares Proceeds from reissuance of treasury shares (cost, P860,000) 950,000 In the statement of cash flows for the current year, what amount should be reported as net cash used in financing activities? (Indicate if provided or used)
11. During the current year, XYZ Corporation had the following activities related to financial operations: 7,500,000 Payment for the early retirement of bonds payable (carrying amount, P7,400,000) Distribution of cash dividend in the current year to preferred shareholders (declared in prior year) 620,000 5,200,000 Proceeds from sale of ordinary shares Proceeds from reissuance of treasury shares (cost, P860,000) 950,000 In the statement of cash flows for the current year, what amount should be reported as net cash used in financing activities? (Indicate if provided or used)
Transcribed Image Text:11. During the current year, XYZ Corporation had the following activities related to financial operations: 7,500,000 Payment for the early retirement of bonds payable (carrying amount, P7,400,000) Distribution of cash dividend in the current year to preferred shareholders (declared in prior year) 620,000 5,200,000 Proceeds from sale of ordinary shares Proceeds from reissuance of treasury shares (cost, P860,000) 950,000 In the statement of cash flows for the current year, what amount should be reported as net cash used in financing activities? (Indicate if provided or used)
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