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Stella [2.4K]
3 years ago
6

During the year, Next Tec Corp. had the following cash flows: receipt from customers, $14,000; receipt from the bank for long-te

rm borrowing, $6,500; payment to suppliers, $5,200; payment of dividends; $1,700, payment to workers, $2,400; and payment for machinery, $12,500. What amount would be reported for net financing cash flows in the statement of cash flows?
Business
1 answer:
elena-s [515]3 years ago
5 0

Answer:

The amount that will be reported for net financing cash flows in the statement of cash flows is $4,800.

Explanation:

Cash Flows from financing activities are all cash flows which is incurred for the purpose of financing the business.

For example

  • Dividend Payment
  • Issuance of Bonds
  • Issuance of share
  • etc.

Determine the category of each cash flow

Receipt from customers, $14,000; Operating

Receipt from the bank for long-term borrowing, $6,500; Financing

Payment to suppliers, $5,200; Operating

Payment of dividends; $1,700, Financing

Payment to workers, $2,400; operating

Payment for machinery, $12,500. Investing

Now calculate the Financing cash flows

Receipt from the bank for long-term borrowing _____ $6,500

Payment of dividends ________________________<u>( $1,700 )</u>

Net cash flows from Financing activites ___________ <u>$4,800</u>

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Answer:

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The theory of information asymmetry was developed and introduced by three (3) notable Nobel prize winning economists, namely; Michael Spence, George Akerlof and Joseph Stiglitz.

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