Fleming Company provided the following information on selected transactions during 2021: Dividends paid to preferred stockholders $ 500,000 Loans made to affiliated corporations 1,400,000 Proceeds from issuing bonds 1,600,000 Proceeds from issuing preferred stock 2,100,000 Proceeds from sale of equipment 800,000 Purchases of inventories 2,400,000 Purchase of land by issuing bonds 600,000 Purchases of treasury stock 1,200,000 The net cash provided (used) by financing activities during 2021 is

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03-05-2021
Business

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Fleming Company provided the following information on selected transactions during 2021: Dividends paid to preferred stockholders $ 500,000 Loans made to affiliated corporations 1,400,000 Proceeds from issuing bonds 1,600,000 Proceeds from issuing preferred stock 2,100,000 Proceeds from sale of equipment 800,000 Purchases of inventories 2,400,000 Purchase of land by issuing bonds 600,000 Purchases of treasury stock 1,200,000 The net cash provided (used) by financing activities during 2021 is

Sagot :

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Abiolataiwo2015idn Abiolataiwo2015idn · Answer 1 · 2021-05-04T20:48:39-04:00

Answer:

$2,000,000

Explanation:

Calculation to determine what The net cash provided (used) by financing activities during 2021 is

Using this formula

Net cash provided (used) by financing activities=(Dividends paid to preferred stockholders)+Proceeds from issuing bonds+Proceeds from issuing preferred stock+(Purchases of treasury stock )

Let plug in the formula

Net cash provided (used) by financing activities=($ 500,000) +$1,600,000 + $2,100,000 + ($1,200,000)

Net cash provided (used) by financing activities=$2,000,000

Therefore The net cash provided (used) by financing activities during 2021 is $2,000,000

Sagot :

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