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20 August, 23:56

Net income was $469,000. Issued common stock for $76,000 cash. Paid cash dividend of $14,000. Paid $115,000 cash to settle a note payable at its $115,000 maturity value. Paid $124,000 cash to acquire its treasury stock. Purchased equipment for $90,000 cash. Use the above information to determine this company's cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.)

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  1. 21 August, 02:37
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    The company's cash flows from financing activities is ($177,000).

    Explanation:

    The company

    Statement of cash flows (extract)

    Proceed from issue of common stock $76,000

    Dividends paid ($14,000)

    Repayment of note payable ($115,000)

    Purchase of treasury stock ($124,000)

    Net cash flows from financing activities ($177,000)
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