Question

Gomez Corp. reported the following items for the year ended December 31, 2020.

Item Dec 31, 2020 Purchased an investment in debt securities (long-term) for cash $ 30,000 Sold equipment for cash, previously used in operations 25,000 Paid cash for dividends 10,000 Issued common stock for cash 100,000 Retired a 10-year bond payable by repaying the face value at maturity 80,000 Sold investment in equity securities (held for one-year) 11,000 Borrowed cash by signing a nine-month note payable 15,000 Extended a loan to a customer for a building expansion 8,000 Use a negative sign with your answer to indicate a cash outflow, if applicable. Calculate net cash from financing activities for the year ended December 31, 2020. $ 0

Answer 1

Calculation of net cash from financing activities for year ended Dec 31, 2020 Paid cash for dividends Issued common stuck for cash Retired a to year old bond payable Bordowed cash by signing a nine month note payable Net cash from financing activities $(10,000) $100,000 $(80,000) $ (15,000) $ (5,000 Note: _Purchase of sovertment in debt securities sold equipment for cash, sold investment in equity , Extended a love to customer are all in vesting activities and not financing activities if the Please feel free to ask any queries and do give a Solution was satisfactory. Thankyou. give a thumbsup