Bardell,Inc.prepared its statement of cash flows for the year.The following information is taken from that statement: What is the amount of net cash provided by (used in)financing activities?
A)$30,800
B)($6,600)
C)($30,800)
D)$6,600

Question

Bardell,Inc.prepared its statement of cash flows for the year.The following information is taken from that statement:  What is the amount of net cash provided by (used in)financing activities?
A)$30,800 
B)($6,600) 
C)($30,800) 
D)$6,600

Quizplus · Accepted Answer

The net cash provided by financing activities is calculated by adding the cash inflows and outflows from financing activities. In the given statement, there is a cash outflow of $37,400 for the payment of long-term debt, and a cash inflow of $6,600 from the issuance of common stock. Therefore, the net cash provided by financing activities is ($37,400 + $6,600) = ($30,800).