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17 February, 15:42

Stansfield Corporation had the following activities in 2012.

1. Payment of accounts payable: $770,000

2. Issuance of common stock: $250,000

3. Payment of dividends: $350,000

4. Collection of note receivable: $100,000

5. Issuance of bonds payable: $510,000

6. Purchase of treasury stock: $46,000

Compute the amount Stansfield should report as net cash provided by financing activities in its 2012 statement of cash flows.

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  1. 17 February, 16:26
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    Net cash provided by financing activities in 2012 is $364,000

    Explanation:

    Computation of net financing activity.

    Particular Amount

    Issuance of common stock $250,000

    Issuance of bonds payable $510,000

    $760,000

    Less: Payment of dividends $350,000

    Less: Purchase of treasury stock $46,000

    Net cash provided $364,000

    Net cash provided by financing activities in 2012 is $364,000
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