Question: During Year 2, the cash flows related to Global Data, Incorporated's lending and borrowing activities are summarized as follows: Cash lent to borrowers $ 132,100

During Year 2, the cash flows related to Global Data, Incorporated's lending and borrowing activities are summarized as follows:

Cash lent to borrowers $ 132,100
Payment to retire bonds payable $ 366,500
Proceeds from borrowing at bank (note payable) $ 220,000
Interest received from borrowers $ 31,000
Interest payments made on bonds payable $ 41,500

On the basis of the above information alone, what is Global Data's net cash flow from financing activities?

Multiple Choice

  • $146,500 net cash used for financing activities

  • $145,000 net cash used for financing activities

  • $498,600 net cash used for financing activities

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!