Thomson co. had $150,000 and $310,000 in cash on the balance sheet at the end of 2xx0 and 2xx1, respectively. its cash flow from operating activities totaled $2.5mi and its cash flow from long-term investment activities totaled $2mi. the firm issued $500,000 in l-t debt and paid $50,000 dividends. how much common stock did the firm repurchase?

$4,790,000

Explanation:

We know,

Opening cash flow + Net cash generated during the period = Closing cash

Opening cash = $150,000

Closing = $310,000

Net cash generated = $310,000 - $150,000 = $160,000

Cash inflow from operating activities = $2.5 million

Cash flow from investing activities = $2 million

Cash from issue of debt = $500,000

Dividends paid = ($50,000)

Net cash generated = $4,950,000

Cash generated - Cash used for repurchase of common stock = $160,000

$4,950,000 - cash used = $160,000

Cash used in repurchase of common stock = $4,790,000

(a) when insurance is obtained through a reciprocal insurer, the insureds are sharing the risk of loss with other subscribers of that reciprocal.

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