Sunland Company issued common stock for proceeds of $536000 during 2017. The company paid dividends of...
Sunland Company issued common stock for proceeds of $536000 during 2017. The company paid dividends of $95000 and issued a long-term note payable for $360000 in exchange for equipment during the year. The company also purchased treasury stock that had a cost of $78000. The financing section of the statement of cash flows will report net cash inflows of
|
$801000. |
|
$363000. |
|
$441000. |
|
$723000. |
Homework Answers
The correct answer is $ 363000
Explanation and calculation
Cashflow from financing activities = proceeds from common stock - dividend paid - purchase of treasury stock
= 536000 - 95000- 78000
= $ 363000
Note
Issue of note payable for equipment will not be considered in cash Inflow from financing activities as cash has not been received against them instead equipment has been received.
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