Question: Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5) Creative Sound Systems sold investments, land, and its own common stock for $32.0 million,

 Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5)Creative Sound Systems sold investments, land, and its own common stock for

Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5) Creative Sound Systems sold investments, land, and its own common stock for $32.0 million, $14.8 million, and $39.6 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.8 million, $24.8 million, and $11.8 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (List cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) Brief Exercise 11-11 Calculate net cash flows from financing activities (LO11-5) Creative Sound Systems sold investments, land, and its own common stock for $32.0 million, $14.8 million, and $39.6 million, respectively. Creative Sound Systems also purchased treasury stock, equipment, and a patent for $20.8 million, $24.8 million, and \$11.8 million, respectively. What amount should Creative Sound Systems report as net cash flows from financing activities? (List cash outflows and any decrease in cash as negative amounts. Round your answers to 1 decimal place. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!