Stansfield Corporation had the following activities in 2020. Payment of accounts payable for $270,000. Issuance of common stock for $150,000. Payment of dividends $99,000. Collection of note receivable for $85,000. Issuance of bonds payable for $110,000. Purchase of treasury stock for $52,000. Compute the amount Stansfield should report as net cash provided (used) by financing activities in its 2020 statement of cash flows

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03-05-2022
Business

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Stansfield Corporation had the following activities in 2020. Payment of accounts payable for $270,000. Issuance of common stock for $150,000. Payment of dividends $99,000. Collection of note receivable for $85,000. Issuance of bonds payable for $110,000. Purchase of treasury stock for $52,000. Compute the amount Stansfield should report as net cash provided (used) by financing activities in its 2020 statement of cash flows

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amcool amcool · Answer 1 · 2022-05-09T10:38:32+02:00

The amount Stansfield should report as net cash provided (used) by financing activities is $109,000.

Computation of net cash provided (used) by financing activities

The amount Stansfield should report as net cash provided (used) by financing activities can be computed as follows:

Net cash provided (used) by financing activities = Issuance of common stock - Payment of dividends + Issuance of bonds payable - Purchase of treasury stock ………………. (1)

Substituting all the relevant values into equation (1), we have:

Net cash provided (used) by financing activities = $150,000 - $99,000 + $110,000 - $52,000

Net cash provided (used) by financing activities = $109,000

Learn more about financing activities here: https://brainly.com/question/16377227.

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