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Accounting

Problem:

Norris Company issued 10,000 shares of $1 par common stock for $25 per share during 2010. The company paid dividends of $24,000 and issued long-term notes payable of $220,000 during the year.

Required:

Question: What amount of cash flows from financing activities will be reported on the statement of cash flows?

$6,000 net cash inflow
$226,000 net cash inflow
$470,000 net cash outflow
$446,000 net cash inflow

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165507

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