Superfine Company collected the following data in preparing its cash flow statement for the year ended December
Question:
Superfine Company collected the following data in preparing its cash flow statement for the year ended December 31, 2011:
Amortization of bond discount | $ 1,000 |
Dividends declared | 22,500 |
Dividends paid | 19,000 |
Gain on sale of equipment | 3,000 |
Proceeds from the sale of equipment | 5,000 |
Proceeds from the sale of treasury stock (carrying amount $32,500) | 37,500 |
Purchase on BAS Inc. bonds (par value $100,000) | 90,000 |
Required:
Determine the following amounts that should be reported in Superfine’s 2011 statement of cash flows.
1. What amount should Superfine report as net cash used in investing activities?
2. What amount should Superfine report as net cash provided by financing activities?
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon