Questions #26-27 are based on the following: A company had the following cash flows for the year: (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Paid employee salaries, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (f) Sold equipment, $40,000 (g) Sold services to customers, $120,000 26. What amount would be reported for net investing cash flows on the Statement of Cash Flows? ($20,000). $70,000. $155,000. $40,000. A. B. C. D. 27. What amount would be reported for net financing cash flows on the Statement of Cash Flows? ($20,000). $70,000. $155,000. $40,000. A. B. C. D.
Questions #26-27 are based on the following: A company had the following cash flows for the year: (a) Purchased land, $60,000 (b) Borrowed from a local bank, $100,000 (c) Paid employee salaries, $50,000 (d) Issued common stock, $75,000 (e) Paid dividends, $20,000 (f) Sold equipment, $40,000 (g) Sold services to customers, $120,000 26. What amount would be reported for net investing cash flows on the Statement of Cash Flows? ($20,000). $70,000. $155,000. $40,000. A. B. C. D. 27. What amount would be reported for net financing cash flows on the Statement of Cash Flows? ($20,000). $70,000. $155,000. $40,000. A. B. C. D.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.2E
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