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Information concerning the debt of Cole Company

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Information concerning the debt of Cole Company is as follows;Short-term borrowings;Balance at December 31, 2010 $525,000;Proceeds from borrowings in 2011 325,000;Payments made in 2011 (450,000);Balance at December 31, 2011 $400,000;Current portion of long-term debt;Balance at December 31, 2010 $1,625,000;Transfers from caption "Long-Term Debt" 500,000;Payments made in 2011 (1,225,000);Balance at December 31, 2011 $ 900,000;Long-term debt;Balance at December 31, 2010 $9,000,000;Proceeds from borrowings in 2011 2,250,000;Transfers to caption "Current Portion of Long-Term Debt" (500,000);Payments made in 2011 (1,500,000);Balance at December 31, 2011 $9,250,000;In preparing a statement of cash flows for the year ended December 31, 2011, for Cole Company, cash flows from financing activities would reflect;Inflow Outflow;a. $2,000,000 $2,000,000;b. $2,250,000 $2,250,000;c. $2,650,000 $2,575,000;d. $2,575,000 $3,175,000

 

Paper#26626 | Written in 18-Jul-2015

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