Dr.Mark Veterinary Services recorded the following cash transactions for the year: Paid $154000 for salaries.
Paid $85000 to purchase equipment.
Paid $49000 for utilities supplies insurance and advertising.
Paid $36000 for rent.
Issued shares of stock for $60000
Paid $28000 in dividends.
Collected $650000 from customers.
Paid $3600 to purchase investments.
What was the company's net cash provided (used) by financing activities?
A)$32000
B)$60000
C)$63600
D)The amount cannot be determined from the information provided.

Question

Quizplus · Accepted Answer

Net cash provided by financing activities is calculated by subtracting dividends paid from cash received from issuing shares. Here, $60000 was received from issuing shares and $28000 was paid in dividends, resulting in a net cash provided of $32000.

DrMark Veterinary Services Recorded the Following Cash Transactions for the Year