Spivey Industries engaged in the following activities during the year:
$\bullet$Borrowed money from City Bank for $200,000
$\bullet$Sold equipment that cost $125,000 for $40,000
$\bullet$Sold 100 shares of stock for $20 each
$\bullet$Paid dividends to stockholders totaling $12,000
Required:

Prepare the cash flows provided by financing activities section of Spivey’s statement of cash flows.

Question

Spivey Industries engaged in the following activities during the year:
$\bullet$Borrowed money from City Bank for $200,000
$\bullet$Sold equipment that cost $125,000 for $40,000
$\bullet$Sold 100 shares of stock for $20 each
$\bullet$Paid dividends to stockholders totaling $12,000
Required:

Prepare the cash flows provided by financing activities section of Spivey’s statement of cash flows.

Quizplus · Accepted Answer

The Answer of Spivey Industries engaged in the following activities during the year:
$\bullet$Borrowed money from City Bank for $200,000
$\bullet$Sold equipment that cost $125,000 for $40,000
$\bullet$Sold 100 shares of stock for $20 each
$\bullet$Paid dividends to stockholders totaling $12,000
Required:

Prepare the cash flows provided by financing activities section of Spivey’s statement of cash flows.

Spivey Industries Engaged in the Following Activities During the Year ∙\bullet∙

Spivey Industries Engaged in the Following Activities During the Year $\bullet$