Given this information: 2019 2020 2019 2020 Cash $6,100 $4,800 Accounts payable $2,100 $2,200 Accounts receivable $2,400 $1,500 Utilities payable $800 $1,100 Inventory $6,000 $5,800 Unearned revenue $4,000 $1,000 Prepaid rent $1,200 $400 Note payable $16,000 $13,000 Land $36,000 $40,000 Interest payable $600 $1,000 Equipment $18,000 $18,000 Common stock $12,000 $12,000 Accumulated depreciation ($1,200) ($2,200) Retained earnings $33,000 $38,000 $68,500 $68,300 $68,500 $68,300 How much were cash flows from financing activities if net income was $12,000 during 2020? O ($3,000) O ($10,000) ($7,000) O ($4,000) None of the above

Given this information: 2019 2020 2019 2020 Cash $6,100 $4,800 Accounts payable $2,100 $2,200 Accounts receivable $2,400 $1,500 Utilities payable $800 $1,100 Inventory $6,000 $5,800 Unearned revenue $4,000 $1,000 Prepaid rent $1,200 $400 Note payable $16,000 $13,000 Land $36,000 $40,000 Interest payable $600 $1,000 Equipment $18,000 $18,000 Common stock $12,000 $12,000 Accumulated depreciation ($1,200) ($2,200) Retained earnings $33,000 $38,000 $68,500 $68,300 $68,500 $68,300 How much were cash flows from financing activities if net income was $12,000 during 2020? O ($3,000) O ($10,000) ($7,000) O ($4,000) None of the above

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 15P: Cash Flow Amounts On January 1, 2019, Philip Holding invests 40,000 in an annuity to provide 8 equal...

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