Question

Bardell, Inc. prepared its statement of cash flows for the year. The following information is taken from that statement: Net cash provided by operating activities $ 29,000 Net cash provided by investing activities 8,400 Cash balance, beginning of year 11,600 Cash balance, end of year 18,200 What is the amount of net cash provided by (used in) financing activities

Answer 1

Answer:

The Net Cash used in Financing activities is $30,800

Explanation:

Step 1 Determine the Movement in Cash during the period.

Movement = Ending Cash Balance - Beginning Cash  Balance \

                  = 18,200 - 11,600

                  = 6,600 (inflow)

Step 2 Determine the Cash flow in Financing Activities

Cash flow statement for the year

Cash flow from Operating Activities                                              $29,000

Net Cash flow from Investing Activities                                          $ 8,400

Net Cash flow from Financing Activities (Balancing figure)        ($30,800)

Movement in Cash during the year                                                 $6,600

Therefore, The Net Cash used in Financing activities is $30,800