Question

The following T-account is a summary of the Cash account of Cuellar Company. Cash (Summary Form) Balance, Jan. 1 8,300 Receipts from customers 361,000 Payments for goods 220,400 Dividends on stock investments 5,300 Payments for operating expenses 140,300 Proceeds from sale of equipment 36,500 Interest paid 11,700 Proceeds from issuance of Taxes paid 8,600 bonds payable 500,500 Dividends paid 60,100 Balance, Dec. 31 470,500 What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows

Answer 1

Answer:

the amount of net cash provided or used by the financing activities is $440,400

Explanation:

The computation of the amount of net cash provided or used by the financing activities is shown below:

Proceeds from issuance of bonds payable $500,500  

Less Dividends paid -$60,100  

Net cash provided by financing activities $440,400

Hence, the amount of net cash provided or used by the financing activities is $440,400

The positive amount represent the cash inflow and the negative amount represent the cash outflow