Norris Company issued 15,000 shares of $1 par common stock for $25 per share during2012. The company paid dividends of $36,000 and issued long-term notes payable of$330,000 during the year. What amount of cash flows from financing activities will bereported on the statement of cash flows?

Question

Business

Lainey Briggs

17 August, 12:40

Norris Company issued 15,000 shares of $1 par common stock for $25 per share during2012. The company paid dividends of $36,000 and issued long-term notes payable of$330,000 during the year. What amount of cash flows from financing activities will bereported on the statement of cash flows?

+4

Answers (1)

Know the Answer?

Joyce Hardy · Answer 1

total cash generated from financing activities: 669,000

Explanation:

financing activities

from stock issuance 15,000 x 25 = 375,000

long term-note 330,000

dividends paid (36,000)

total cash generated from financing activities: 669,000

We will calculate the total cash proceeds fro mthe stock issuance, add up the proceeds from the long and decrease it by the dividends paid amount.