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Fernan1999 Fernan1999
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5 years ago
Jelly Bean Company uses the indirect method to prepare its statement of cash flows. Refer to the following portion of the comparative balance sheet:

Jelly Bean Company
Comparative Balance Sheet
December 31, 2017 and 2016
20162015Increase/(Decrease)
Common Stock$32,000$2,000$30,000
Retained Earnings122,00078,00044,000
Treasury Stock(15,000)(8,500)(6,500)
Total Equity$139,000$71,500$67,500

Note:
1. There were no stock retirements during the year.
2. There were no sales of treasury stock during the year.

Compute the cash flow from transactions involving treasury stock.
A) zero net cash flow
B) $6,500 of positive cash flow
C) $6,500 negative cash flow
D) $15,000 negative cash flow
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
Authors:
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ediblefruitzediblefruitz
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5 years ago
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Fernan1999 Author
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#2
5 years ago
Smart ... Thanks!
Anonymous
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#3
9 months ago
Help! The answer is missing an explanation...
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