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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).

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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