question archive Use the I-9 Networking Solutions data in E10-79 to show how the company reported cash flows from financing activities during 2014
Use the I-9 Networking Solutions data in E10-79 to show how the company reported cash flows from financing activities during 2014
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Use the I-9 Networking Solutions data in E10-79 to show how the company reported cash flows from financing activities during 2014.
In E10-79, I-9 Networking Solutions began operations on January 1, 2014, and immediately issued its stock, receiving cash. I-9’s balance sheet
at December 31, 2014, reported the following stockholders’ equity:
Common stock, $ 1 par...................... $ 56,000
Additional paid- in capital.................. 394,400
Retained earnings.............................. 41,000
Treasury stock, 500 shares................ (2,000)
Total stockholders’ equity................$ 489,400
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Statement of cash flows: |
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Cash Flows from Financing Activities: |
|
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Issuance of common stock.......................................................................... |
$448,000 |
|
Purchase of treasury stock.......................................................................... |
(3,200) |
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Sale of treasury stock.................................................................................. |
3,600 |
|
Payment of dividends................................................................................. |
(24,000) |
