22) Pace Associates, a small consulting firm, charges all of its expenses on Accounts Payable. Pace's Accounts Payable balance was $1,500 at the beginning of the year. During the year, expenses were incurred on account in the amount of $13,500. The ending Accounts Payable balance was $3,500. What is the amount of cash paid for expenses during the year?

A) $17,000

B) $11,500

C) $10,500

D) $15,500

26) Which of the following would be reported as a financing activity on the statement of cash flows?

A) Dividends collected from an investment in marketable securities.

B) Note payable issued to purchase equipment.

C) Purchase of investment securities.

D) Cash paid for the purchase of treasury stock

29) Equipment with an original cost of $20,000 and accumulated depreciation of $7,500 was sold at a loss of $2,500. As a result of this transaction, cash would:

A) increase by $10,000.

B) decrease by $7,500.

C) increase by $20,000.

D) decrease by $10,000.

30) Style Monthly magazine reported $650,000 of revenue for the month. At the beginning of the month, its Unearned Revenue account had a balance of $190,000. At the end of the month, the account had a balance at $156,000. Based on this information, what is the amount of cash received from customers?

A) $460,000

B) $650,000

C) $684,000

D) $616,000