Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. dristell inc. had the following activities during

Dristell Inc. had the following activities during the year (all transactions are for cash unless...

70.2K

Verified Solution

Question

Accounting

image

Dristell Inc. had the following activities during the year (all transactions are for cash unless stated otherwise): a. A building with a book value of $400,000 was sold for $500,000. b. Additional common stock was issued for $160,000. c. Dristell purchased its own common stock as treasury stock at a cost of $75,000. d. Land was acquired by issuing a 6%, 10-year, $750,000 note payable to the seller. e. A dividend of $40,000 was paid to shareholders. f. An investment in Fleet Corp.s common stock was made for $120,000. g. New equipment was purchased for $65,000. h. A $90,000 note payable issued three years ago was paid in full. i. A loan for $100,000 was made to one of Dristell's suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months. Required: Calculate net cash flows from financing activities. (Cash outflows should be indicated with a minus sign.) Net cash flows $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Jill comes to you and is interested in the mean calorie content of energy bars. She...

General Management
1.2K views

Recology CleanScapes, formed when CleanScapes of Seattle merged with San Francisco–based Recology, provides recycling services to about...

General Management
1.2K views

One of the problems with non-verbal language is that it is difficult to interpret. You are...

Accounting
1.2K views

What is meant by the term "arm’s length," and how do you see it as important...

Biology
1.2K views

Sort the levels of biological classificaton so that the most specific category is at the...

Biology
1.2K views

A referendum allows state citizens to O vote to approve or reject laws O advise...

Biology
1.2K views

A hominin is an ancient ape hominoid that we believe to be specifically on our...

Calculus
1.2K views

Find the quotient Do not round 3 305 100

Calculus
1.2K views

5 Find the centerold of the region bounded by the graphs of Y X and...

Algebra
1.2K views

em 10 Let oblem 10 a A T 4 2 5 1 6 16 2...

Accounting
1.2K views

Question 3 4 pts Exercise 10-12. Runner Retailers expects credit sales...

Finance
1.2K views

14.Charlie Brown buys a 15-year bond with a face value of $5000 that is redeemable...