Question
Justine Inc. has the following information available for 2011: Cash balance on 1/1/2011 $ 12,000 Cash balance on 12/31/2011 20,000 Net cash provided by investing
Justine Inc. has the following information available for 2011:
| Cash balance on 1/1/2011 | $ 12,000 |
| Cash balance on 12/31/2011 | 20,000 |
| Net cash provided by investing activities | 50,000 |
| Net cash provided by financing activities | 16,000 |
The operating activity section of Justine's statement of cash flows would show:
A. Net Cash provided by operating activities $58,000
B. Net Cash utilized by operating activities $58,000
C. Net Cash utilized by operating activities $98,000
D. Net Cash provided by operating activities $98,000
Explain your choice in detail.
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Auditing Cases An Interactive Learning Approach
Authors: Mark S Beasley, Frank A. Buckless, Steven M. Glover, Douglas F Prawitt
7th Edition
0134421825, 9780134421827
