Powell Company has provided information concerning items taken from its financial statements to assist you...
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Powell Company has provided information concerning items taken from its financial statements to assist you in preparing its statement of cash flows, direct method: 1. Issued preferred stock for cash, $224,000 2. Depreciation expense, $43,000. 3. Paid Interest expense, $60,000 4. Purchased treasury stock, 5320,000 5. Issued treasury stock for cash, $190,000 6. Purchased subsidiary with cash, 5304,000. Required: From the information given, calculate the net amount of cash from financing activiti ctivities or the net amount of cash used for financing activities Cash received Cashed 5 Powell Company has provided information concerning items taken from its financial statements to assist you in preparing its statement of cash flows, direct method: 1. Issued preferred stock for cash, $224,000 2. Depreciation expense, $43,000. 3. Paid Interest expense, $60,000 4. Purchased treasury stock, 5320,000 5. Issued treasury stock for cash, $190,000 6. Purchased subsidiary with cash, 5304,000. Required: From the information given, calculate the net amount of cash from financing activiti ctivities or the net amount of cash used for financing activities Cash received Cashed 5
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