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During Year 1, Brianna Company had the following transactions related to its financial operations: Payment for the retirement of long- term bonds payable ( carrying value $ 740,000) $ 750,000 Distribution in Year 1 of cash dividend declared in Year

During Year 1, Brianna Company had the following transactions related to its financial operations: Payment for the retirement of long- term bonds payable ( carrying value $ 740,000) $ 750,000 Distribution in Year 1 of cash dividend declared in Year 0 to preferred shareholders 62,000 Carrying value of convertible preferred stock of Brianna converted into common shares 120,000 Proceeds from sale of treasury stock ( carrying value at cost $ 86,000) 95,000 On its Year 1 statement of cash flows, net cash used in financing activities should be:
a. $ 717,000
b. $ 716,000
c. $ 597,000
d. $ 535,000 Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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Choice a is correct In this question the information wanted is the net cash used …View the full answer


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Related Book For  answer-question
Intermediate Accounting

Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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Posted Date: November 24, 2015 04:32:39
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