Question

In: Accounting

26. The Laurel Company reported the following data for last year: Decrease in the Cash account........................$25,000...

26. The Laurel Company reported the following data for last year:
Decrease in the Cash account........................$25,000
Net cash provided by operating activities..............20,000
Net cash provided by investing activities.............15,000
Based solely on this information, the net cash provided (used) by financing activities on the statement of cash flows would be:
A. 2000
b. (30,000)
c. (60000)
d. (8000)

Solutions

Expert Solution

Correct Answer (C ) $ (60000)

Explanation

Calculation of Cash used in Financing Activities

Cash From operating Activity

                                                                 $ 20,000.00

Cash from Investing Activity

                                                                  $ 15,000.00

Cash used in Financing Activity (Balancing Figure)

                                                                $ (60,000.00)

Net Decrease in Cash

                                                               $ (25,000.00)

ekkarill92 answered 1 year ago
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