Question

The following transactions occurred last year at Jogger Corporation: Issuance of shares of the company's own common stock $ 110,000 Dividends paid to the company's own shareholders $ 3,000 Sale of long-term investment $ 4,000 Interest paid to lenders $ 8,000 Retirement of the company's own bonds payable $ 100,000 Proceeds from sale of the company's used equipment $ 29,000 Purchase of new equipment $ 170,000 Based solely on the above information, the net cash provided by (used in) financing activities for the year on the statement of cash flows would be: Multiple Choice $(138,000) $7,000 $424,000 $(1,000)

Answer 1

Answer:

b. $7,000

Explanation:

Statement of Cash-flow from Financing activities

Particulars                                                 Amount

Issue common Stock                                $110,000

Dividend paid                                           -$3,000

Retirement of bonds payable                 -$100,000

Net cash flow from financing activities $7,000