Question

Oriole Company had the following transactions during 2022: 1. Issued $310000 of par value common stock for cash. 2. Recorded and paid wages expense of $148800. 3. Acquired land by issuing common stock of par value $124000. 4. Declared and paid a cash dividend of $24800. 5. Sold a long-term investment (cost $7440) for cash of $7440. 6. Recorded cash sales of $992000. 7. Bought inventory for cash of $396800. 8. Acquired an investment in Zynga stock for cash of $52080. 9. Converted bonds payable to common stock in the amount of $1240000. 10. Repaid a 6-year note payable in the amount of $545600. What is the net cash provided by financing activities

Answer 1

Answer and Explanation:

The computation of the net cash provided by financing activities is shown below;

Cash flows from financing activities

Issue of common stock $310,000

Less : Cash dividends ($24,800)

Repaid notes Payable ($545,600)

Net cash flow used by financing activities ($260,400)

The positive amount represent the inflow of cash and the negative amount represent the outflow of cash