Question

Pharoah Corporation engaged in the following cash transactions during 2020. Sale of land and building $187,600 Purchase of treasury stock 40,100 Purchase of land 41,300 Payment of cash dividend 89,600 Purchase of equipment 59,400 Issuance of common stock 147,900 Retirement of bonds 110,000 Compute the net cash provided (used) by financing activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Answer 1

Answer:

See below

Explanation:

The computation of net cash provided is seen below

Proceeds from issuance of common stock

147,900

Less:

Purchase of treasury stock

($40,100)

Less:

Dividend payment

($89,600)

Less:

Retirement of bonds

($110,000)

Cash flow used by financing activities

($91,800)