Veale Corporation's most recent balance sheet appears below: Net income for the year was $107. Cash dividends were $29.
-The net cash provided by (used by) financing activities for the year was:
A) ($51)
B) $5
C) ($29)
D) ($27)

Question

Veale Corporation's most recent balance sheet appears below:  Net income for the year was $107. Cash dividends were $29.
-The net cash provided by (used by) financing activities for the year was:
A) ($51) 
B) $5 
C) ($29) 
D) ($27)

Quizplus · Accepted Answer

Net cash provided by (used by) financing activities = Issuance of shares - Repurchase of shares - Payment of dividends= 26 - 77 = -51

Veale Corporation's Most Recent Balance Sheet Appears Below: Net