Carter Containers sold marketable equity securities, land, and common stock for $25.0 million, $14.5 million, and $45.0 million, respectively. Carter also purchased treasury stock, equipment, and a patent for $12.0 million, $23.5 million, and $13.6 million, respectively. Required: What amount should Carter report as net cash from financing activities? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).
Carter Containers sold marketable equity securities, land, and common stock for $25.0 million, $14.5 million, and $45.0 million, respectively. Carter also purchased treasury stock, equipment, and a patent for $12.0 million, $23.5 million, and $13.6 million, respectively. Required: What amount should Carter report as net cash from financing activities? Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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subject :- Accounting
Transcribed Image Text:Carter Containers sold marketable equity securities, land, and common stock for $25.0 million, $14.5 million, and
$45.0 million, respectively. Carter also purchased treasury stock, equipment, and a patent for $12.0 million, $23.5
million, and $13.6 million, respectively.
Required:
What amount should Carter report as net cash from financing activities?
Note: Cash outflows should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal
place (i.e., 5,500,000 should be entered as 5.5).
Answer is complete but not entirely correct.
($ in
millions)
Cash Flows from Financing Activities:
Proceeds from sale of marketable securities
Proceeds from sale of land
Proceeds from sale of common stock
Purchase of treasury stock
Purchase of equipment for cash
Purchase of patent for cash
Net cash inflows (outflows) from financing activities
X $
X
$
✓ $
X $
X
$
$
(25.0) X
(14.5) X
45.0✔
(12.0)
23.5 X
13.6 x
30.6
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