1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
4vir4ik [10]
3 years ago
15

Creative Sound Systems sold investments, land, and its own common stock for $37.0 million, $14.3 million, and $38.6 million, res

pectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.3 million, $24.3 million, and $11.3 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (List cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).)
Business
1 answer:
worty [1.4K]3 years ago
8 0

Answer:

$18.3 million

Explanation:

Financing activities: It includes those activities which comes under the long term liabilities and shareholder equity balance. The issue of shares is an inflow of cash whereas redemption, dividend, and the purchase of treasury stock is an outflow of cash.

The computation of the amount reported as a net cash flows from financing activities is shown below:

Cash flow from Financing activities  

Issuance of common stock $38.6 million

Less: Purchase of treasury stock -$20.3 million

Net Cash flow from Financing activities           $18.3 million

You might be interested in
Rick's Internet Corporation's balance in Retained Earnings is $30,000. The board of directors directs that $15,000 be appropriat
gtnhenbr [62]

<u>Answer</u> is D. remain at $30,000.

<u>Explanation:</u>

Rick's Internet Corporation balance in retained earnings = $30,000

Appropriated earning for future business expansion = $15,000

This appropriated earning set for future use will have no effect on the total retained earnings, because for appropriate retained earnings,  the entry is to debit the retained earnings account.

Also, it would be board's decision if they want to use the money from the retained earnings or add more capital to it.

6 0
3 years ago
Leno Company sells goods to the Fallon Company for​ $10,000. It offers credit terms of​ 2/10, n/30. If Fallon Company pays the i
Zinaida [17]

Answer:

Leno Company will record a debit to Cash in the amount​ of: D. ​$9,800

Explanation:

The terms of 2/10, n/30 means 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

Fallon Company pays the invoice within the discount​ period - early enough to receive a 2% discount. The discount amount is 2% x $10,000 = $200.

On the other hand, Leno Company has to offer a 2% discount to Fallon Company. Cash amount Leno Company receives = $10,000 - 2% x $10,000 = $9,800

Leno Company will record a debit to Cash in the amount​ of $9,800

6 0
3 years ago
Sue and Neal are twins. Sue invests $5,000 at 7 percent when she is 25 years old. Neal invests $5,000 at 7 percent when he is 30
dolphi86 [110]

Answer:

Sue will have more money than Neal as long as they retire at the same time

Explanation:

Both Neal and Sue invest the same amount ($5,000) at same interest rate (7%). In the compound interest rate formula only the time is differ. When they retire at age 60, Sue has 5 years more than Neal meaning Sue earn more interest than Neal.

3 0
3 years ago
Darius rarely makes mistakes as the accountant for the round-tuit corporation. he always follows the correct guidelines when he
slamgirl [31]

<span>Darius has a “conventional” personality type, this is according to Holland’s Six personality types, which means that he likes to work with numbers and data. This kind of person can carry out the task in detail and can easily follow the instruction of a others. </span>

5 0
3 years ago
Marketing environmental forces are often _______. a. stable b. non-influential c. easy to predict d. interdependent e. controlla
inysia [295]

Marketing environmental forces are often interdependent.

4 0
3 years ago
Other questions:
  • The following information relates to next year's projected operating results of the Children's Division of Grunge Clothing Corpo
    13·1 answer
  • Rather than determining whether a culture has good or bad ethics, it is best to look for practical solutions to the cultural cha
    14·1 answer
  • Depreciation Methods On January 2, 2018, Skyler, Inc. purchased a laser cutting machine to be used in the fabrication of a part
    10·2 answers
  • What was the average maturity level (with a high of 5) reported by survey participants for high performing organizations and low
    10·1 answer
  • Arnold gave land to his son, Bruce. Arnold's basis in the land was $100,000, and its fair market value at the date of the gift w
    8·1 answer
  • select the department of defense's (dod's) decision-support system that this statement describes: "This system uses milestones t
    9·1 answer
  • Landers Flynn Inc. has 1,000 shares of $5 cumulative preferred stock outstanding. Dividends were not paid last year. The corpora
    11·1 answer
  • Assume that the price for swimming pool maintenance services has risen and sales of these services have fallen. one can conclude
    12·1 answer
  • One disadvantage of the BYOD strategy is the potential for __________. Group of answer choices cost savings increased flexibilit
    14·1 answer
  • The price quotations of treasury bonds in the wall street journal show a bid price of 104.5313 and an ask price of 104.5489. if
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!