For the year ended December 31,2019,Kennel
Company reported short-term borrowings of $2,500,000,long-term borrowings of $6,800,000,repayments of long-term borrowings of $3,500,000,interest payments of $780,000,purchase of treasury shares of $500,000,cash dividends declared of $1,100,000,and cash dividend payments of $800,000.Kennel also issued its common stock in exchange for a building costing $400,000.
A.Prepare the financing activities section of the Kennel
Company cash flow statement for the year ended December 31,2019.
B.Is the net cash flow for financing activities a net cash inflow,or a net cash outflow? Briefly describe the reason for your answer.

Question

Quizplus · Accepted Answer

The Answer of For the year ended December 31,2019,Kennel
Company reported short-term borrowings of $2,500,000,long-term borrowings of $6,800,000,repayments of long-term borrowings of $3,500,000,interest payments of $780,000,purchase of treasury shares of $500,000,cash dividends declared of $1,100,000,and cash dividend payments of $800,000.Kennel also issued its common stock in exchange for a building costing $400,000.
A.Prepare the financing activities section of the Kennel
Company cash flow statement for the year ended December 31,2019.
B.Is the net cash flow for financing activities a net cash inflow,or a net cash outflow? Briefly describe the reason for your answer.

For the Year Ended December 31,2019,Kennel