Question: Question 20 Lopez Corp. uses the Indirect method to prepare its statement of cash flows. Refer to the following information for 2017 1. Long-Term Notes
Question 20 Lopez Corp. uses the Indirect method to prepare its statement of cash flows. Refer to the following information for 2017 1. Long-Term Notes Payable, beginning balance, $85,000 2. Long-Term Notes Payable, ending balance, $71,000 3. Common Stock, beginning balance, $3,100 4Common Stock, ending balance, $27,000 5Retained Earnings, beginning balance, $76,000 6. Retained Earnings, ending balance,$120,000 7..Treasury Stock, beginning balance, $5,200 8. Treasury Stock, ending balance, $10,100 No stock was retired. 10.No treasury stock was sold. 11. During 2016, the company repaid $37,000 of long-term notes payable 12. During 2016, the company borowed $51,000 on a new note payable 13. Not income for the year was $54,000 14. Assume all dividends declared during the year were paid Prepare the net cash flow from financing activities for full credit show all of your work) 6 8 9 2 0
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