In 2015,Chen Corporation purchased treasury stock with a cost of $50,000.During the year,the company declared and paid dividends of $10,000 and issued bonds payable for $1,000,000.Net Cash Provided by Financing Activities for 2015 is:
A)$940,000.
B)$950,000.
C)$990,000.
D)$1,000,000.

Question

Quizplus · Accepted Answer

Net Cash Provided by Financing Activities is calculated as: Cash inflows from issuing bonds ($1,000,000) minus cash outflows for purchasing treasury stock ($50,000) and paying dividends ($10,000), resulting in $940,000.

In 2015,Chen Corporation Purchased Treasury Stock with a Cost of $50,000.During