Question

Trident Manufacturing Company's treasurer identified the following cash flows during this year as significant. It had repaid existing debt to the tune of $425,110, while raising additional debt capital of $750,000. It also repurchased stock in the open markets for a total of $63,250. It paid $233,144 in dividends to its shareholders. What is the net cash provided (used) by financing activities?

Answer 1

$28,496

Step-by-step explanation:

Calculation to determine the net cash provided (used) by financing activities

Cash inflows from financing activities $750,000

Less Cash outflows from financing activities ($721,504)

($425,110 + $63,250 + $233,144)

Net cash flows from financing activities $28,496

($750,000 – $721,504)

Therefore the net cash provided (used) by financing activities is $28,496