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In its fiscal 2016 annual report, Nike, Inc. reported cash of $3,138 million at year end. The statement of cash flows reports the following (in
In its fiscal 2016 annual report, Nike, Inc. reported cash of $3,138 million at year end. The statement of cash flows reports the following (in millions): Net cash from operating activities Net cash from investing activities Net cash from financing activities $3,096 1,034) (2.776) What was the balance in Nike's cash account at the start of fiscal 2016? Select one: O A. $3,096 million O B. $1,020 million O C. $3,852 million O D. $4,357 million O E. None of the above A company records an adjusting journal entry to record $10,000 depreciation expense. Which of the following describes the entry? O O O O A. Debit Property Plant and Equipment and Credit Depreciation expense B. Debit Depreciation expense and Credit Property Plant and Equipment C. Debit Property Plant and Equipment and Credit Cash D. Debit Depreciation expense and Credit Cash E. Debit Net Income and Credit Property Plant and Equipment
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