13. Statement of Cash Flows
Financing Activities
13. Statement of Cash Flows
Financing Activities
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Which of the following is a cash flow from financing activities?
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The exchange of land worth \$110,000 for 50,000 shares of common stock in the company would be an:
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Turkey Company is preparing its Statement of Cash Flows and gathered the following information:
- Since the previous year: the cash account increased by \$35,000, land increased by \$40,000, Equipment decreased by \$15,000, Accumulated Depreciation – Equipment increased by \$6,000, Retained Earnings increased by \$340,000, and Bonds Payable increased by \$100,000,
- Depreciation expense for Equipment totaled \$16,000.
- Equipment with a purchase price of \$15,000 was sold for a \$2,000 gain.
- Turkey loaned \$24,000 to Potatoes Company signing a long-term note receivable.
- Net income was \$420,000.
- Turkey issued 100,000 shares of \$5 par value common stock. The additional paid-in capital from this transaction was \$300,000.
What is Turkey Company's net cash flow from financing activities?
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