The following transactions occurred at Joplin Company: Issuance of shares of com

Question

The following transactions occurred at Joplin Company: Issuance of shares of company's own common stock $80,000, Dividends paid to the company's own shareholders $15,000, Dividends received from investments in other companies shares $12,000, interest paid on the company's own bonds $8,000, repayment of the principal on the company's own bonds $60,000, Proceeds from the company's sale of used equipment $25,000, purchase of land $150,000. Based solely on the information, the net cash provided by financing activities for the year on the statement of cash flows would be?

A) $19,000

B) $(120,000)

C) $5,000

D) $332,000

Explanation / Answer

5,000

Statement of cash flows Cash flows from financing activities Amount ($) Cash received from the issue of common stock 80,000 Cash paid for dividends (15,000) Repayment of bonds (60,000) Net cash provided by financing activities

5,000

Option C) $5,000 is correct

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