During Year 1, China Enterprises experienced the following events. (1) Earned $13,400 of revenue on account (2) Incurred $9,000 of expenses on account Based on this information, which of the following describes the combined effects of both events on the amount of total assets, net inca and cash flow from operating activities shown on the Year 1 financial statements? Option A Option B Option C Option D Total Assets Net Income $4,400 $4,400 $4,400 $13,400 $4,400 $13,400 $13,400 $13,400 Net Cash Flow from Operating Activities. 0 0 $4,400 $4,400
During Year 1, China Enterprises experienced the following events. (1) Earned $13,400 of revenue on account (2) Incurred $9,000 of expenses on account Based on this information, which of the following describes the combined effects of both events on the amount of total assets, net inca and cash flow from operating activities shown on the Year 1 financial statements? Option A Option B Option C Option D Total Assets Net Income $4,400 $4,400 $4,400 $13,400 $4,400 $13,400 $13,400 $13,400 Net Cash Flow from Operating Activities. 0 0 $4,400 $4,400
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.4.2MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...
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Question
Which option A, B, C, D
![0:45
k
During Year 1, China Enterprises experienced the following events.
(1) Earned $13,400 of revenue on account
(2) Incurred $9,000 of expenses on account
Based on this information, which of the following describes the combined effects of both events on the amount of total assets, net income
and cash flow from operating activities shown on the Year 1 financial statements?
Option A
Option B.
Option C
Option D
Total Assets
$4,400
$13,400
$13,400
$13,400
Net Income
$4,400
$4,400
$4,400
$13,400
Net Cash Flow from
Operating Activities
0
0
$4,400
$4,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F04fed8df-2897-4d7c-8ebc-718f084eaa19%2Fe34b1078-6477-4de2-9c9f-56c29a917293%2Fsscc9q8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:0:45
k
During Year 1, China Enterprises experienced the following events.
(1) Earned $13,400 of revenue on account
(2) Incurred $9,000 of expenses on account
Based on this information, which of the following describes the combined effects of both events on the amount of total assets, net income
and cash flow from operating activities shown on the Year 1 financial statements?
Option A
Option B.
Option C
Option D
Total Assets
$4,400
$13,400
$13,400
$13,400
Net Income
$4,400
$4,400
$4,400
$13,400
Net Cash Flow from
Operating Activities
0
0
$4,400
$4,400
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