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
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
