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What is the net effect of the financing activities

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Reference no: EM132928046

Problem 1: Poof Co. had the following transaction: Purchase of land for cash, $90,000; sale of equipment for cash $30,000; issuance of bonds for cash, $100,000; payment of mortgage for cash, $15,000; issue stock dividends, $40,000; purchase treasury stock; $200,000; receive cash dividends, $15,000; scrapped a company car which had a book value of $5,000. What is the net effect of the financing activities?

Option 1: Decrease $100,000

Option 2: Decrease $115,000

Option 3: Decrease $130,000

Option 4: Decrease $155,000

Reference no: EM132928046

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