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Novak Corp. issued 24400 shares of $1 par common stock for $40 per share during 2022. The company paid dividends of $59000 and issued long-term notes payable of $537000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows

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Tundexi

Answer:

The amount of cash flow that will be reported from Financing activities is $1,454,000 Net cash Inflow

Explanation:

Computation of Novak Corporation cash flows from Financing Activities.

Particulars                                                           Amount

Cash Inflow from issue of Common stock       $976,000

(24,400 * $40)  

Cash Inflow from issue of Notes Payable        $537,000

                                                                           $1,513,000

Less: Dividends Paid                                         (-$59,000)  

Net cash Inflow from Financing Activities       $1,454,000

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