Talbert Corp.'s balance sheet accounts as of December 31, 2009 and 2008 and information relating to 2009 activities are presented below.
Information relating to 2009 activities:
• Net income for 2009 was $1,500,000.
• Cash dividends of $600,000 were declared and paid in 2009.
• Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2008 for $360,000.
• A long-term investment was sold in 2009 for $320,000. There were no other transactions affecting long-term investments in 2009.
• 20,000 shares of common stock were issued in 2008 for $25 a share.
• Short-term investments consist of treasury bills maturing on 6/30/10.
-Net cash provided by Talbert's 2009 financing activities was
A) $480,000.
B) $520,000.
C) $1,080,000.
D) $1,680,000.

Question

Talbert Corp.'s balance sheet accounts as of December 31, 2009 and 2008 and information relating to 2009 activities are presented below.
   Information relating to 2009 activities:
• Net income for 2009 was $1,500,000.
• Cash dividends of $600,000 were declared and paid in 2009.
• Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2008 for $360,000.
• A long-term investment was sold in 2009 for $320,000. There were no other transactions affecting long-term investments in 2009.
• 20,000 shares of common stock were issued in 2008 for $25 a share.
• Short-term investments consist of treasury bills maturing on 6/30/10.
-Net cash provided by Talbert's 2009 financing activities was
A) $480,000. 
B) $520,000. 
C) $1,080,000. 
D) $1,680,000.

Quizplus · Accepted Answer

20,000 × $25 = $500,000
$500,000 + $580,000 - $600,000 = $480,000.