Question

Use the following information to determine this company's cash flows from financing activities.

Net income was $467,000.
Issued common stock for $74,000 cash.
Paid cash dividend of $13,000.
Paid $120,000 cash to settle a note payable at its $120,000 maturity value.
Paid $120,000 cash to acquire its treasury stock.
Purchased equipment for $90,000 cash.

Answer 1

Answer:

See the explanation below.

Explanation:

Details                                                                Amount ($)

Issued common stock                                          74,000

Dividend paid                                                       (13,000)

Settlement of note payable                               (120,000)

Treasury stock acquired                                   (120,000)

Net cash flows from financing activities       (179,000)