15) MC Qu. 82 Spackel Corporation ... Spackel Corporation recorded the following events last year:...
60.1K
Verified Solution
Link Copied!
Question
Accounting
15) MC Qu. 82 Spackel Corporation ...
Spackel Corporation recorded the following events last year:
Issuance of shares of the company's own common stock
$380,000
Purchase of long-term investment
$40,000
Dividends paid to the company's own shareholders
$18,000
Cash paid to suppliers for inventory purchases
$12,000
Repayment of principal on the company's own bonds
$370,000
Interest paid to lenders
$6,000
Collection by Spackel of a loan made to another company
$110,000
Purchase of equipment
$350,000
On the statement of cash flows, some of these events are classified as operating activities, some are classified as investing activities, and some are classified as financing activities. Based solely on the information above, the net cash provided by (used in) financing activities on the statement of cash flows would be:
A)$1,286,000
B)$104,000
C)($14,000)
D)($8,000)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
