20.Current liabilities are obligations that are reasonably expected to be paid from Existing Creation of Other Current Assets Current Liabilities No No Yes Yes No Yes Yes C. No 21. Which of the following errors will cause a trial balance to be out of balance? The entry to record a payment on account was a. not posted at all. b. posted as a debit to Cash and a credit to Accounts Payable. C posted as a debit to Cash and a debit to Accounts Payable. d. posted as a debit to Accounts Receivable and a credit to Cash. 22. Lawford Company's equipment account increased $400,000 during the period; the related accumulated depreciation increased $30,000. New equipment was purchased at a cost of $700,000 and used equipment was sold at a loss of $20,000. Depreciation expense was $100,000. Proceeds from the sale of the used equipment were a. $210,000 b. $250,000 C. $280,000 d. $320,000 23. Which of the following would not be included in the operating activities section of a statement of cash flows? a. Cash inflows from returns on loans (i.e., interest) b. Cash inflows from returns on equity securities (i.e., dividends) C. Cash outflows to governments for taxes d. Cash outflows to reacquire treasury stock