Indicate which of the following
has an effect on financing cash flows. Notes payable with a
carrying value of $19,000 are retired for $22,000 cash, resulting
in a $3,000 loss. Paid cash dividends of $15,000 to common
stockholders. Acquired $24,000 worth of machinery in exchange for
common stock.
Homework Answers
| Items | Amount | Effect on financing cash flows | |
| a. | Notes payable | 22,000 | Decrease |
| b. | Dividends | 15,000 | Decrease |
| c. | Machinery | 0 | No effect |
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