Answered

Discover a world of knowledge at Westonci.ca, where experts and enthusiasts come together to answer your questions. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

Concord Corporation had the following transactions during 2022: 1. Issued $190000 of par value common stock for cash. 2. Recorded and paid wages expense of $91200. 3. Acquired land by issuing common stock of par value $76000. 4. Declared and paid a cash dividend of $15200. 5. Sold a long-term investment (cost $4560) for cash of $4560. 6. Recorded cash sales of $608000. 7. Bought inventory for cash of $243200. 8. Acquired an investment in Zynga stock for cash of $31920. 9. Converted bonds payable to common stock in the amount of $760000. 10. Repaid a 6-year note payable in the amount of $334400. What is the net cash provided by financing activities

Sagot :

Answer:

The net cash provided by financing activities -$157,600.

Explanation:

Net cash provided by financing activities refers to the difference between the total cash inflows and total cash outflows from the financing activities section of the cash flow staement.

The net cash provided by financing activities can be calculated by preparing a partial cash flow statement as follows:

Concord Corporation

Net Cash Flow Statement (Partial)

As at December 31, 2022

Details                                                                     Amount    

Par value common stock issued for cash             190,000

Dividend declared and paid in cash                      (15,200)

6-year note payable repaid                                  (334,400)  

Net cash provided by financing activities         (157,600)  

Therefore, the net cash provided by financing activities -$157,600.

Alternatively, the net cash provided by financing activities can be calculated as follows:

Net cash provided by financing activities = Par value common stock issued for cash - Dividend declared and paid in cash - 6-year note payable repaid = $190,000 - $15,200 - $334,400 = -$157,600

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.