The Warrel Corporation reported the following data for last year: Based solely on this information,the net cash provided (used)by financing activities on the statement of cash flows would be:
A)$12,000
B)$34,000
C)($12,000)
D)($18,000)

Question

The Warrel Corporation reported the following data for last year:  Based solely on this information,the net cash provided (used)by financing activities on the statement of cash flows would be:
A)$12,000 
B)$34,000 
C)($12,000) 
D)($18,000)

Quizplus · Accepted Answer

Net change in cash and cash equivalents = Net cash provided by (used in)operating activities + Net cash provided by (used in)investing activities + Net cash provided by (used in)financing activities
$22,000 = -$18,000 + $6,000 + Net cash provided by (used in)financing activities
Net cash provided by (used in)financing activities = $22,000 + $18,000 - $6,000 = $34,000

The Warrel Corporation Reported the Following Data for Last Year