Question
Jennings Inc. recognized the following balances in its financial records: Account Dec. 31, 2019 Dec 31, 2020 Dividends payable $ 40,000 $ 10,000 Retained earnings
Jennings Inc. recognized the following balances in its financial records:
| Account | Dec. 31, 2019 | Dec 31, 2020 |
| Dividends payable | $ 40,000 | $ 10,000 |
| Retained earnings | 200,000 | 275,000 |
Jennings Inc. reported net income of $155,000 in 2020.
Based on this information, what is the effect on the financing activities section of the statement of cash flows?
| A. | Cash outflow of $80,000 | |
| B. | Cash outflow of $110,000 | |
| C. | Cash outflow of $50,000 | |
| D. | Cash outflow of $30,000
|
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ESG And Financial Performance The Effects Of Audit Quality And National Culture In The Nigerian And Kenyan Context
Authors: Ursule Yvanna Otek Ntsama
1st Edition
3346838838, 978-3346838834
