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APS Company issued 20,000 shares of $1 par common stock for $40 per share during 2017. The company paid cash dividends of $48,000, sold an old machine for $3000 and issued long-term notes payable of $440,000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows?

$1,195,000 net cash inflow.

$352,000 net cash inflow.

$705,000 net cash outflow.

$1,192,000 net cash inflow

Respuesta :

hyderali230

Answer:

$1,192,000 net cash inflow

Explanation:

Cash flows from financing activities:

Cash Inflows:

Common Stock Dividend ( 20,000 x $40 )= $800,000

Long term note payable issuance =              $440,000

                                                                                           $1,240,000

Cash outflows:

Dividend Payment =                                                         ( $48,000 )

Cash flow from financing activities                               $1,192,000

Net cash Inflow of $1,192,000.

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