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Hardy company had a balance

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Reference no: EM13918215

On January 1, 2013, Hardy Company had a balance of $150,000 in its Common Stock account. During 2013, Hardy paid $20,000 to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December 31, 2013, was $175,000. Assume that the common stock is no par stock.

Required: 

a. Determine the cash inflow from the issue of common stock. 

b. Prepare the financing activities section of the 2013 statement of cash flows. 

Reference no: EM13918215

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