Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.Harmonious Foods' statement of cash flows showed the following totals: Cash for operating activities($65000) Cash from financing activities41000 Cash from investing activities32000 Which statement most

1.Harmonious Foods' statement of cash flows showed the following totals:

Cash for operating activities($65000)

Cash from financing activities41000

Cash from investing activities32000

Which statement most likely explains what occurred during the year?

A.Harmonious Foods is using cash from operations and borrowing money from the bank to buy long-term assets

B.Harmonious Foods is using its profits in order to sell plant assets and repay debt

C.Harmonious Foods is using money from the sale of long-term assets to fund its operations and to repay debt.

D.Harmonious Foods is selling long-term assets and borrowing money to fund operations

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Markets and Institutions

Authors: Frederic S. Mishkin, Stanley G. Eakins

5th edition

321280299, 321280296, 978-0321280299

More Books

Students also viewed these Finance questions

Question

What is Larmors formula? Explain with a suitable example.

Answered: 1 week ago

Question

WHEN IS ACTIVITY-BASED COSTING APPROPRIATE IN AN ORGANIZATION?LO.1

Answered: 1 week ago