Justin Company reported the following information at December 31, 2019: 2019 2018...
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Accounting
Justin Company reported the following information at December 31, 2019:
2019 2018
Dividends payable $ 45 $ 20
Bank loan 600 500
C/S 700 400
R/E 600 400
Additional information:
The bank loan was increased by additional borrowings of $x to partially finance the acquisition of new equipment that cost $550, where x = 75% of the outstanding balance of the loan at the beginning of the current year. The bank loan was decreased by repayments.
C/S were issued during the year.
Dividends were paid during the year.
NI for the year was $410.
Required:
Prepare the financing activities section of Justins statement of cash flows for the year. 2019 is the current year.
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