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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 7
Cash Flow from Financing Activities
Tidwell Company experienced the following during 2015:
a. Sold preferred stock for $480,000.
b. Declared dividends of $150,000 payable on March 1, 2016.
c. Borrowed $575,000 from bank on a 2-year note.
d. Purchased $80,000 of its own common stock to hold as treasury stock.
e. Repaid 5-year bonds issued in 2010 for $400,000 due in December.
Required:
Prepare the net cash from financing activities section of the statement of cash flows.
Tidwell Company experienced the following during 2015:
a. Sold preferred stock for $480,000.
b. Declared dividends of $150,000 payable on March 1, 2016.
c. Borrowed $575,000 from bank on a 2-year note.
d. Purchased $80,000 of its own common stock to hold as treasury stock.
e. Repaid 5-year bonds issued in 2010 for $400,000 due in December.
Required:
Prepare the net cash from financing activities section of the statement of cash flows.
Explanation
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Financing activities:
These activities ...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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