Randal Corporation recorded the following activity for the year just ended: The net cash provided by financing activities for the year was:
A)$100,000
B)$550,000
C)$180,000
D)$680,000

Question

Randal Corporation recorded the following activity for the year just ended:  The net cash provided by financing activities for the year was:
A)$100,000 
B)$550,000 
C)$180,000 
D)$680,000

Quizplus · Accepted Answer

From the provided information, we can see that the net increase in cash for the year was $180,000, which means that the total cash provided by operating activities and investing activities was $180,000. To find the net cash provided by financing activities, we can simply subtract this amount from the total increase in cash from all sources, which is $730,000 ($550,000 + $180,000). Therefore, the net cash provided by financing activities must be $550,000 (730,000 - 180,000). Option B is the only one which matches this amount.

Randal Corporation Recorded the Following Activity for the Year Just