FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5)
Creative Sound Systems sold investments, land, and its own common stock for $37.0 million, $15.7 million, and $41.4 million,
respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.7 million, $25.7 million, and $12.7
million, respectively.
What amount should Creative Sound Systems report as net cash flows from financing activities? (List cash outflows and any decrease
in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be
entered as 10.1).)
CREATIVE SOUND SYSTEMS
Statement of Cash Flows (partial)
Cash flows from financing activities
Net cash flows from financing activities
$
0.0
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Transcribed Image Text:Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5) Creative Sound Systems sold investments, land, and its own common stock for $37.0 million, $15.7 million, and $41.4 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $21.7 million, $25.7 million, and $12.7 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (List cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) CREATIVE SOUND SYSTEMS Statement of Cash Flows (partial) Cash flows from financing activities Net cash flows from financing activities $ 0.0
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