The Gopher Company's transactions during 2015 included the following:
• Paid cash dividends totaling $1,200,000.
• Paid $900,000 cash toward a long-term note payable.
• Issued common stock in exchange for a building valued at $750,000.
• Issued bonds with a maturity value of $2,000,000 in exchange for $1,950,000 cash.
• Paid $50,000 cash for bond interest.
• $2,250 of bond discount amortization was recorded.
• Issued preferred stock for $250,000 cash.
• A long-term stock investment with a book value of $79,000 was sold for $123,000 cash.
• Sold equipment for cash;the equipment's book value at the time of sale was $90,000 and the sale resulted in a $15,000 loss.
Required:
1.Determine the net cash flow from investing activities for 2015.
2.Determine the net cash flow from financing activities for 2015.

Question

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The Answer of The Gopher Company's transactions during 2015 included the following:
• Paid cash dividends totaling $1,200,000.
• Paid $900,000 cash toward a long-term note payable.
• Issued common stock in exchange for a building valued at $750,000.
• Issued bonds with a maturity value of $2,000,000 in exchange for $1,950,000 cash.
• Paid $50,000 cash for bond interest.
• $2,250 of bond discount amortization was recorded.
• Issued preferred stock for $250,000 cash.
• A long-term stock investment with a book value of $79,000 was sold for $123,000 cash.
• Sold equipment for cash;the equipment's book value at the time of sale was $90,000 and the sale resulted in a $15,000 loss.
Required:
1.Determine the net cash flow from investing activities for 2015.
2.Determine the net cash flow from financing activities for 2015.

The Gopher Company's Transactions During 2015 Included the Following