A company reports the following balances: During 2016,net income of $30,000 was reported.No treasury stock was sold during 2016.No common stock was retired during 2016.What financing activities are reported on the statement of cash flows prepared with the indirect method for the year ending December 31,2016?
A)Sale of treasury stock $5,000 and Payment of dividends $20,000
B)Purchase of treasury stock $5,000,Payment of dividends $20,000 and Sale of common stock $20,000
C)Sale of treasury stock $5,000,Sale of common stock $10,000
D)Payment of dividends $10,000,Sale of common stock $20,000,and Purchase of treasury stock $5,000

Question

A company reports the following balances:  During 2016,net income of $30,000 was reported.No treasury stock was sold during 2016.No common stock was retired during 2016.What financing activities are reported on the statement of cash flows prepared with the indirect method for the year ending December 31,2016?
A)Sale of treasury stock $5,000 and Payment of dividends $20,000 
B)Purchase of treasury stock $5,000,Payment of dividends $20,000 and Sale of common stock $20,000 
C)Sale of treasury stock $5,000,Sale of common stock $10,000 
D)Payment of dividends $10,000,Sale of common stock $20,000,and Purchase of treasury stock $5,000

Quizplus · Accepted Answer

The Answer of A company reports the following balances:  During 2016,net income of $30,000 was reported.No treasury stock was sold during 2016.No common stock was retired during 2016.What financing activities are reported on the statement of cash flows prepared with the indirect method for the year ending December 31,2016?
A)Sale of treasury stock $5,000 and Payment of dividends $20,000 
B)Purchase of treasury stock $5,000,Payment of dividends $20,000 and Sale of common stock $20,000 
C)Sale of treasury stock $5,000,Sale of common stock $10,000 
D)Payment of dividends $10,000,Sale of common stock $20,000,and Purchase of treasury stock $5,000

A Company Reports the Following Balances: During 2016,net Income