Question

In preparing a company's statement of cash flows for the most recent year, Ransom Corp. reported...

In preparing a company's statement of cash flows for the most recent year, Ransom Corp. reported the following information:

Repayment of outstanding bonds $ 107,000
Purchase of treasury stock 62,000
Issuance of common stock 46,000
Payment of cash dividends 15,000


Net cash flows from financing activities for the year were:

Multiple Choice

  • $230,000 of net cash used.

  • $230,000 of net cash provided.

  • $108,000 of net cash used.

  • $138,000 of net cash used.

  • $138,000 of net cash provided.

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Homework Answers

Answer #1

Answer: $138,000 of net cash used.

Explanation

$
Cash Flow from Financing Activities
Repayment of outstanding bonds       (107,000.00)
Purchased treasury stock        (62,000.00)
Issuance of common stock          46,000.00
Cash Dividends paid        (15,000.00)
Net cash used in financing activities       (138,000.00)
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