Dogs 4 U Corporation has net cash flow from financing activities for the last ye

Question

Dogs 4 U Corporation has net cash flow from financing activities for the last year of $37 million. The company paid $184 million in dividends last year. During the year, the change in notes payable on the balance sheet was $42 million and change in common and preferred stock was $0. The end-of-year balance for long-term debt was $335 million.

Dogs 4 U Corporation has net cash flow from financing activities for the last year of $37 million. The company paid $184 million in dividends last year. During the year, the change in notes payable on the balance sheet was $42 million and change in common and preferred stock was $0. The end-of-year balance for long-term debt was $335 million.

Calculate the beginning-of-year balance for long-term debt.

Explanation / Answer

Solution:

Dividends paid -184,000,000 Add: Changes in notes payable 42,000,000 Add: Ending Long term debt 335,000,000 Less: Beginning long term debt x Net cash flow from financing activities 37,000,000 Beginning Long term debt 156,000,000

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