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The following information pertains to Delaware Company: Net Income... $65,000 De

ID: 2432830 • Letter: T

Question

The following information pertains to Delaware Company:

Net Income... $65,000

Depreciation Expense... $7,000

Payment of Dividends... $4,000

Increase in Accounts Receivable... $2,000

Collection of Long-Term Notes Receivable... $13,000

Loss on Sale of Land... $17,000

Increase in Accounts Payable... $11,000

Acquisition of Equipment with Cash... $22,000

Sale of Treasury Stock... $1,000

Payment of Long-Term Debt... $18,000

Proceeds from Sale of Land... $40,000

Decrease in Inventories... $5,000

Net Cash provided by (used for) financing activities would be:

A. $4,000

B. $(21,000)

C. $121,000

D. $(3000)

Explanation / Answer

Answer:

Net Cash provided by (used for) financing activities= $(21,000)

Working notes for the above answer:

calculation of the Cash provided by (used for) financing activities

Particular

Amount $

Amount $

Payment of Dividends

(4000)

Sale of Treasury Stock

1000

Payment of Long-Term Debt

(18000)

Net Cash provided by financing activities

(21000)

Particular

Amount $

Amount $

Payment of Dividends

(4000)

Sale of Treasury Stock

1000

Payment of Long-Term Debt

(18000)

Net Cash provided by financing activities

(21000)