Problem regarding cash flows from financing activities


Question: Littlefield Ltd. which follows ASPE, repurchased shares using cash of $45,000 during the current year. During the year, the company paid dividends of $35,000 and issued bonds payable for cash proceeds of $625,000. Cash flows from financing activities total which of the following? Select answer from the options below $705,000 net cash outflow $635,000 net cash outflow $615,000 net cash inflow $545,000 net cash inflow

 

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Accounting Basics: Problem regarding cash flows from financing activities
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