The following summary transactions occurred during the year for Petunia. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments. Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $390,000 11,000 60,000 40,000 110,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from financing activities: 170,000 10,000 95,000 100,000 30,000 1,000 PETUNIA COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Net cash flows from financing activities
The following summary transactions occurred during the year for Petunia. Cash received from: Collections from customers Interest on notes receivable Collection of notes receivable Sale of investments. Issuance of notes payable Cash paid for: Purchase of inventory Interest on notes payable Purchase of equipment Salaries to employees Payment of notes payable Dividends to shareholders $390,000 11,000 60,000 40,000 110,000 Required: Calculate net cash flows from financing activities. (Amounts to be deducted should be indicated with a minus sign.) Cash flows from financing activities: 170,000 10,000 95,000 100,000 30,000 1,000 PETUNIA COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Net cash flows from financing activities
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter7: Receivables And Investments
Section: Chapter Questions
Problem 7.16E
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