Question

Tang Corporation, which follows accounting standards for private enterprises (ASPE), had the following activities in 2011.
1. Paid $870,000 of accounts payable.
2. Paid $12,000 of bank loan interest.
3. Issued common shares for $200,000.
4. Paid $170,000 in dividends (charged to retained earnings).
5. Collected $150,000 in notes receivable.
6. Issued $410,000 of bonds payable.
7. Paid $20,000 on bank loan principal.
8. Issued a stock dividend in the amount of $11,000.
9. Received $5,000 in interest from an investment in bonds.
10. Purchased at a cost of $47,000 the corporation’s own shares.
Calculate the amount that Tang should report as net cash provided (used) by financing activities in its 2011 statement of cash flows.


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  • CreatedAugust 23, 2015
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