Question

During 2014, Xan Inc. had the following activities related to its financial operations:
Payment for the early retirement of long-term bonds payable (carrying value $370,000) $375,000
Distribution in 2014 of cash dividend declared in 2013 to preferred shareholders 31,000
Carrying value of convertible preferred stock in Xan converted into common shares 60,000
Proceeds from sale of treasury stock (carrying value at cost, $43,000) 50,000

Required:
In Xan’s 2014 statement of cash flows, how much should net cash used in financing activities be?



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  • CreatedSeptember 10, 2014
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