Arkansas Company Is Preparing Its Statement of Cash Flows Using

question 109

Multiple Choice

Arkansas Company is preparing its statement of cash flows using the indirect method.Refer to the following information: 1.Repayments on Long-term Notes Payable $58,000
2) New borrowing on Long-term Notes Payable $19,000
Which of the following statements is correct?

• A) Net cash used for financing activities is $(39,000).
• B) Net cash used for investing activities will is $58,000.
• C) Net cash provided by financing activities is $39,000.
• D) Net cash provided by investing activities is $39,000.

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