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nikdorinn [45]
3 years ago
9

During 2018, T Company engaged in the following activities: Distribution of cash dividends declared in 2017 $ 48 Fair value of s

hares issued in a stock dividend 220 Payment to retire bonds 452 Proceeds from the sale of treasury stock (cost: $52) 60 In T's statement of cash flows, what were net cash outflows from financing activities for 2018
Business
1 answer:
VikaD [51]3 years ago
7 0

Answer:

$440

Explanation:

First and foremost the financing activities hinted in  the question are as follows:

Distribution of cash dividends declared in 2017 $ 48(outflow)

Payment to retire bonds $452(outflow)

Proceeds from the sale of treasury stock (cost: $52) $60(inflow)

net cash outflows from financing activities=-$48-$452+$60

net cash outflows from financing activities=-$440

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Answer:

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Explanation:

For taking out the adjusted cash balance at June 30 we will subtract the error in ledger amount and debit memo for monthly service charge and add the interest earned from the initial cash balance before any adjustment is made.

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