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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Refer to the information for Cornett Company above. What amount should Cornett report on its statement of cash flows as net cash flows from financing activities?

a. $65,200 c. $100,000

b. $94,800 d. None of these

To determine

Introduction:

Income from financing activities is a segment of an organization’s income proclamation, which demonstrates the net streams of money that are used to fund the organization. Financing activities incorporate exchanges including debt, equity, and dividends.

To choose:

What amount should Cornett report on its statement of cash flow as net cash flow by Financial activities?

Explanation

Explanation for correct answers:

Option (c) Cash flow form financial activities

Particular Amount ($)
Cash received from the issuance of com...

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