FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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2
In preparation for developing its statement of cash flows for the year ended December 31, 2021, Millennium Solutions, Inc.
collected the following information:
(s in millions)
Payment for the early extinguishments of
long-term notes (book value: $62.0 million)
Sale of common shares
Retirement of common shares
Loss on sale of equipment
Proceeds from sale of equipment
Issuance of short-term note payable for cash
Acquisition of building for cash
Purchase of marketable securities (not a cash equivalent)
Purchase of marketable securities (considered a cash equivalent)
Cash payment for 3-year insurance policy
Collection of note receivable with interest (principal amount, $19)
Declaration of cash dividends
Distribution of cash dividends declared in 2020
$66.0
208.0
130.0
2.8
11.2
18.0
11.0
13.0
of 2
11.0
21.0
48.0
45.0
03:00
2. In Millennium's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2021? (Amounts to be
deducted 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).)
(2 in millons)
Cash Flows from Financing Activities:
0.0
Net cash inflows (outflows) from financing activities
Next >
%24
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Transcribed Image Text:2 In preparation for developing its statement of cash flows for the year ended December 31, 2021, Millennium Solutions, Inc. collected the following information: (s in millions) Payment for the early extinguishments of long-term notes (book value: $62.0 million) Sale of common shares Retirement of common shares Loss on sale of equipment Proceeds from sale of equipment Issuance of short-term note payable for cash Acquisition of building for cash Purchase of marketable securities (not a cash equivalent) Purchase of marketable securities (considered a cash equivalent) Cash payment for 3-year insurance policy Collection of note receivable with interest (principal amount, $19) Declaration of cash dividends Distribution of cash dividends declared in 2020 $66.0 208.0 130.0 2.8 11.2 18.0 11.0 13.0 of 2 11.0 21.0 48.0 45.0 03:00 2. In Millennium's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2021? (Amounts to be deducted 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).) (2 in millons) Cash Flows from Financing Activities: 0.0 Net cash inflows (outflows) from financing activities Next > %24
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