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Ivan
3 years ago
10

Creative Sound Systems sold investments, land, and its own common stock for $33.0 million, $14.7 million, and $39.4 million, res

pectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.7 million, $24.7 million, and $11.7 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:
EleoNora [17]3 years ago
3 0

Answer:

Net cash flows from financing activities $18.7

Explanation:

CREATIVE SOUND SYSTEMS

Statement of Cash Flows (partial)

Cash Flows from Financing ActivitiesIssuance of common stock $ 39.4

Less Purchase of treasury stock(20.7)

Net cash flows from financing activities $18.7

Therefore the amount that Creative Sound Systems should report as net cash flows from financing activities will be $18.7

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The following accounts were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet: Accumulated Deprecia
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Answer:

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