During 2013, Stout Inc. had the following activities related to its financial op

Question

During 2013, Stout Inc. had the following activities related to its financial operations: Carrying value of convertible preferred stock in Stout, converted into common shares of Stout $360,000 payment in 2013 of cash dividend declared in 2012 to preferred shareholders $186,000 payment for the early retirement of long-term bonds payable (carrying amount $2,420,000) $2,450,000. Proceeds from the sale of treasury stock (on books at cost of $258,000) $300,000 The amount of net cash used in financing activities to appear in Stout's statement of cash flows for 2013 should be how much

Explanation / Answer

cash flows is 186000 + 2450000 - 300000 = $2,336,000

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.