2019 2020 2019 2 Cash $2,000 $1,600 Accounts payable $4,000 Accounts receivable $4,200 $4,500 Utilities payable $800 Inventory $2,600 $4,000 Salaries payable $2,200 Prepaid rent $800 $500 Notes payable $10,000 Equipment $16,000 $16,000 Interest payable $600 Accum. depreciation ($2,200) ($2,800) Common stock $10,000 Land $10,000 $6,500 Retained earnings $5,800 $33,400 $30,300 $33,400 $ Given the above information, how much were investing cash flows during 2020 if land that had been purchased in a prior year was sold during 2020 for $6000, which was a $1,000 loss? O $7,000 $4,500 $2,500 ($3,500) O None of the above

2019 2020 2019 2 Cash $2,000 $1,600 Accounts payable $4,000 Accounts receivable $4,200 $4,500 Utilities payable $800 Inventory $2,600 $4,000 Salaries payable $2,200 Prepaid rent $800 $500 Notes payable $10,000 Equipment $16,000 $16,000 Interest payable $600 Accum. depreciation ($2,200) ($2,800) Common stock $10,000 Land $10,000 $6,500 Retained earnings $5,800 $33,400 $30,300 $33,400 $ Given the above information, how much were investing cash flows during 2020 if land that had been purchased in a prior year was sold during 2020 for $6000, which was a $1,000 loss? O $7,000 $4,500 $2,500 ($3,500) O None of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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