During the financial year ended 31 May 2020, Brendan Limited raised £75,000 in cash from an issue of share capital and took out a new loan from the bank of £100,000. The proceeds of the share issue and the new loan were used in part to repay an existing bank loan of £150,000. A further £15,000 was raised from the sale of investments, realising a profit of £3,000 on the original cost and interest received contributed £5,000 while interest paid amounted to £10,000. Based on these figures, what is the cash inflow from financing activities for the year ended 31 May 2020?
A) £15,000
B) £20,000
C) £23,000
D) £35,000

Question

Quizplus · Accepted Answer

The Answer of During the financial year ended 31 May 2020, Brendan Limited raised £75,000 in cash from an issue of share capital and took out a new loan from the bank of £100,000. The proceeds of the share issue and the new loan were used in part to repay an existing bank loan of £150,000. A further £15,000 was raised from the sale of investments, realising a profit of £3,000 on the original cost and interest received contributed £5,000 while interest paid amounted to £10,000. Based on these figures, what is the cash inflow from financing activities for the year ended 31 May 2020?
A) £15,000
B) £20,000
C) £23,000
D) £35,000

During the Financial Year Ended 31 May 2020, Brendan Limited