1 - 9 Networking Solutions began operations on January 1, 20X6. During 20X6, the company...
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1 - 9 Networking Solutions began operations on January 1, 20X6. During 20X6, the company recorded the following journal entries to account for certain equity transactions: (Click the icon to view the journal entries.) Requirement 1. Show how the company reported cash flows from financing activities during 20X6. Data table (Use parentheses or a minus sign to show cash outflows.) Entry Cash flows from financing activities: Date Accounts Debit Credit Cash 153,000 51,000 102,000 Share Capital Additional Paid-in Capital Issued 51,000 ordinary shares for $3 per share. Treasury Shares 8,100 Cash 8,100 Purchased 900 shares of treasury shares, paying $9 per share. Cash 1,800 1,800 174,000 113.000 Treasury Shares Resold some of the treasury shares. Revenues Expenses Retained Earnings Closed net income to retained earnings Retained Earnings Cash 61,000 22,000 22,000 Declared and paid cash dividends. Print Done
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