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skelet666 [1.2K]
3 years ago
5

Pina Colada Corp. issued 22000 shares of $1 par common stock for $40 per share during 2022. The company paid dividends of $53000

and issued long-term notes payable of $484000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows
Business
1 answer:
snow_tiger [21]3 years ago
7 0

Answer:

Net cash flows from financing activities $1,311,000.

Explanation:

The computation of the amount that would be reported on the financing activities of the cash flow statement is as follows:

Issue of common stock(22,000 shares × $40) $880,000

Less: payment of dividend ($53,000)

Add: Issue of the long term note payable $484,000

Net cash flows from financing activities $1,311,000.

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2 years ago
On January 1, 2015, East Lansing, Inc, issues $2,000,000 of 10 percent, 5-year bonds that pay interest of $100,000 semiannually.
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The answer is option D

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The bond can be issued at par, at a discount or at a premium depending on the coupon rate and the market interest. The price of the bond which pays semi annual coupon can be calculated using the formula of bond price. The formula to calculate the price of the bond is attached.

First we need to determine the semi annual coupon payment, periods and YTM.

Semi annual coupon payments = 2000000 * 0.1 * 6/12 = 100000

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