Incorrect Question 2 0/0.5 pts A company reported cost of goods sold of $400,000 for the year. During the year, inventory increased from a $23,000 beginning balance to a $35,000 ending balance, and accounts payable increased from a $12,000 beginning balance to a $14,000 ending balance. How much is the cash paid for merchandise purchased during the year? $430,000 $426,000 $452,000 $410,000 Incorrect Question 9 0/0.5 pts Peter Corporation reported the following transactions for 2013: - Sold equipment for a loss of $2,000. The original cost was $15,000; the book value is $6,000 Issued 2,000 shares of $5 par value common stock for $12 per share Paid $3,000 for an Insurance policy which goes into effect in February 2014. The Prepaid Insurance account balance was $5,000 on 1/1/13 and $3,500 on 12/31/13 Reported Net Income of $12,000 on the Income Statement dated 12/31/13 Reacquired 300 shares of its own $5 par common stock at $20 per share Recorded depreciation expense for $5,000 Paid $3,000 of dividends to common stockholders Acquired a building with a market value of $250,000 by issuing 20,000 shares of common stock. Paid salaries of $18,000 Repaid a loan, which included $5,000 of the principal and $1,000 in interest ON The net cash flow from Financing activities is: ($ 7,000) $7,000 ($ 1,000) $10,000 Incorrect Question 10 0/0.5 pts Peter Corporation reported the following transactions for 2013: - oi wona Sold equipment for a loss of $2,000. The original cost was $15,000; the book value is $6,000 Issued 2,000 shares of $5 par value common stock for $12 per share Paid $3,000 for an Insurance policy which goes into effect in February 2014. The Prepaid Insurance account balance was $5,000 on 1/1/13 and $3,500 on 12/31/13 Reported Net Income of $12,000 on the Income Statement dated 12/31/13 Reacquired 300 shares of its own $5 par common stock at $20 per share Recorded depreciation expense for $5,000 Paid $3,000 of dividends to common stockholders Acquired a building with a market value of $250,000 by issuing 20,000 shares of common stock. Paid salaries of $18,000 Repaid a loan, which included $5,000 of the principal and $1,000 in interest The net cash flow from Investing activities is: $17,000 $12,000 $3,000 $7,000