The following T-account is a summary of the cash account of Sage Hill Company. Cash (Summary Form) Balance, Jan. 1 Receipts from customers 8,100 330,700 Payments for goods 6,400 Payments for operating expenses 188,100 Dividends on stock investments Proceeds from sale of equipment 130,000 39,400 Interest paid Taxes paid 321,100 Dividends paid 327,800 10,200 Proceeds from issuance of bonds payable Balance, Dec. 31 7,600 42,000 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash by financing activities
The following T-account is a summary of the cash account of Sage Hill Company. Cash (Summary Form) Balance, Jan. 1 Receipts from customers 8,100 330,700 Payments for goods 6,400 Payments for operating expenses 188,100 Dividends on stock investments Proceeds from sale of equipment 130,000 39,400 Interest paid Taxes paid 321,100 Dividends paid 327,800 10,200 Proceeds from issuance of bonds payable Balance, Dec. 31 7,600 42,000 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash by financing activities
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...
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