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Liula [17]
3 years ago
14

Creative Sound Systems sold investments, land, and its own common stock for $39 million, $15.9 million, and $41.8 million, respe

ctively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.9 million, $25.9 million, and $12.9 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities?
Business
2 answers:
Mnenie [13.5K]3 years ago
8 0

Answer:

Creative Sound Systems should report  $15,9 million as net cash flows from financing activities.

Explanation:

Consider only items relating to financing activities.

Cash flow from  financing activities

Proceeds from Sale of common stock         $41.8 million

Purchased of treasury stock                        ( $25.9 million)

Net Cash flow from Financing Activities       $15,9 million

Sedaia [141]3 years ago
6 0

Answer:

The net cash flows from financing activities is $19.9 million

Explanation:

The net cash flows from financing activities comprises of cash inflows from the issue of common stocks of $41.8 million and the cash outflow expended on purchase of treasury stock of $21.9 million,hence the net cash flows from financing activities is $19.9 million ($41,8 million minus $21.9 million)

Cash inflows and outflows from the sale of land ,equipment ,investments as well as that of patents relate to investing activities of Creative Sound Systems,hence are not included in the calculation of net cash flows from financing activities

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Cash 30,000 Accounts receivable 65,000 Inventory 72,000 Marketable securities 36,000 Prepaid expenses 2,000 Intangible assets 40
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