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26. The Laurel Company reported the following data for last year: Decrease in the Cash account........................$25,000 Net cash provided...

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Accounting

26.The Laurel Company reported the following data for last year:
Decrease in the Cash account........................$25,000
Netcash provided by operating activities..............20,000
Netcash provided by investing activities.............15,000
Basedsolely on this information, the net cash provided (used) byfinancing activities on the statement of cash flows would be:
A.2000
b.(30,000)
c.(60000)
d.(8000)

Answer & Explanation Solved by verified expert
4.2 Ratings (757 Votes)

Correct Answer (C ) $ (60000)

Explanation

Calculation of Cash used in Financing Activities

Cash From operating Activity

                                                                 $ 20,000.00

Cash from Investing Activity

                                                                  $ 15,000.00

Cash used in Financing Activity (Balancing Figure)

                                                                $ (60,000.00)

Net Decrease in Cash

                                                               $ (25,000.00)

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