Brief Exercise 13-3 The following T-account is a summary of the Cash account of

Question

Brief Exercise 13-3

The following T-account is a summary of the Cash account of Cuellar Company.

Cash (Summary Form)

7,400

369,100

242,000

5,400

141,000

35,900

11,500

8,700

500,900

61,000

454,500

What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows?

Cash (Summary Form)

Balance, Jan. 1

7,400

Receipts from customers

369,100

Payments for goods

242,000

Dividends on stock investments

5,400

Payments for operating expenses

141,000

Proceeds from sale of equipment

35,900

Interest paid

11,500

Proceeds from issuance of Taxes paid

8,700

    bonds payable

500,900

Dividends paid

61,000

Balance, Dec. 31

454,500

Explanation / Answer

Cash Provided (used) by financing activities: Proceeds from issuance of bonds payable 500900 Interest Paid -11500 Dividend Paid -61000 Net Cash flow provided by financing activities 428400

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