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DENIUS [597]
3 years ago
14

Creative Sound Systems sold investments, land, and its own common stock for $32.0 million, $14.8 million, and $39.6 million, res

pectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.8 million, $24.8 million, and $11.8 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities
Business
1 answer:
STatiana [176]3 years ago
4 0

Answer:

Creative Sound Systems should report $18,800,000 as net cash flows from financing activities

Explanation:

Cash flow Financing activities are the funds that the business acquire or paid to finance its main activities, these involve borrowing and repaying short-term loans, long-term loans and other long-term liabilities.

From the question, Cash inflow from Issue of common share and Cash outflow from purchase of treasury stock are the only recognizable Financing activities

Particulars                                                                Amount

Cash inflow from Issue of common share              $39,600,000

Cash outflow from purchase of treasury stock     -$20,800,000

Net cash flows from financing activities              $18,800,000

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2 years ago
Dustin and Quinn were given an apple pie and a chocolate cake, and need to divide them. Dustin values the apple pie at $6 and th
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Answer:

Quinn values the apple pie at $4 and the chocolate cake at $10 = total $14

  1. since one "half" will only be chocolate, he needs $7 out of chocolate = 7/10 of the chocolate cake.
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3 years ago
Market failure occurs when a free market is unable to
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3 years ago
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Randolph is a 30 percent partner in the RD Partnership. On January 1, RD distributes $15,000 cash, an investment with a fair val
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Answer:

Randolph's basis in the distributed investment and land are as follows:

Investment = $10,000

Land = $23,000

Explanation:

The first step is that Randolph's basis in his RD Partnership interest of $48,000 is allocated to the distributed assets in an amount equal to the basis RD Partnership.

After this, Randolph will allocate remaining basis to assets which are not cash, hot assets and investment with unrealized appreciation.

Based on the above explanation, Randolph's basis in the distributed are as follows:

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2 years ago
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