Question: In preparing its cash flow statement for the year ended Dec.31, 2011, Doe Co. gathered the following data: gain on sale of land $12,500; Proceeds
In preparing its cash flow statement for the year ended Dec.31, 2011, Doe Co. gathered the following data: gain on sale of land $12,500; Proceeds from sale of land $21,000; Purchase of Jane Inc. bonds (face value $225,000) for $364,000; Amortization of bond discount $4800; Cash Dividends declared $92,000; Cash dividends paid $75,000; Proceeds from sales of common stock (carrying value $135,000) for $160,000. In its Dec 31, 2011, statement of cash flows, what amount should Doe report as net cash from financing activities?
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