Net income was $479,000. Issued common stock for $75,000 cash. Paid cash dividend of $14,000. Paid $100,000 cash to settle a note payable at its $100,000 maturity value. Paid $123,000 cash to acquire its treasury stock. Purchased equipment for $88,000 cash. Use the above information to determine cash flows from financing activities
Net income was $479,000. Issued common stock for $75,000 cash. Paid cash dividend of $14,000. Paid $100,000 cash to settle a note payable at its $100,000 maturity value. Paid $123,000 cash to acquire its treasury stock. Purchased equipment for $88,000 cash. Use the above information to determine cash flows from financing activities
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 38E: Tidwell Company experienced the following during 20X1: a. Sold preferred stock for 480,000. b....
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- Net income was $479,000.
- Issued common stock for $75,000 cash.
- Paid cash dividend of $14,000.
- Paid $100,000 cash to settle a note payable at its $100,000 maturity value.
- Paid $123,000 cash to acquire its
treasury stock . - Purchased equipment for $88,000 cash.
Use the above information to determine cash flows from financing activities
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