In preparation for developing its statement of cash flows for the year ended December 31, 2018, Rapid
Question:
($ in millions)
Fair value of shares issued in a stock dividend....................................................... $ 65
Payment for the early extinguishment of long-term bonds (book value: $97 million) ...........102
Proceeds from the sale of treasury stock (cost: $17 million) ..........................................22
Gain on sale of land ..........................................................................................4
Proceeds from sale of land .................................................................................12
Purchase of Microsoft common stock ..................................................................160
Declaration of cash dividends .............................................................................44
Distribution of cash dividends declared in 2017 .......................................................40
Required:
1. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2018?
2. In Rapid Pac's statement of cash flows, what were net cash inflows (or outflows) from financing activities for 2018?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Related Book For
Intermediate Accounting
ISBN: 9781259722660
9th Edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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