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    Argosy University/ Phoniex University/
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    Phoniex University
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Category > Accounting Posted 19 Aug 2017 My Price 14.00

Tidwell Company

Exercise 15-30 Cash Flow from Financing Activities

Tidwell Company experienced the following during 2013:

a.       Sold preferred stock for $480,000.

b.       Declared dividends of $150,000 payable on March 1, 2014.

c.        Borrowed $575,000 from bank on a 2-year note.

d.       Purchased $80,000 of its own common stock to hold as treasury stock.

e.        Repaid 5-year bonds issued in 2008 for $400,000 due in December.

 

Required:

Prepare the net cash from financing activities section of the statement of cash flows.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales

$ 75,000

Cost of goods sold

(20,000)

Depreciation expense

(2,000)

Other expenses

(13,000)

Net income

$ 40,000

 

 

 

 

 

Assets

 

 

Cash

$  24,600

 

$  64,600

 

Accounts receivable

5,400

 

9,200

 

Inventory

8,000

 

6,000

 

Property, plant, and equipment

160,000

 

175,000

 

Accumulated depreciation

(18,000)

 

(20,000)

 

Land

20,400

 

47,000

 

Total assets

$200,400

 

$281,800

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 03:08 PM My Price 14.00

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