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NEED ASAP, will leave thumbs up Cathy Company started a business on January 1, 2021. After the first year of operations Cathy reported the following
NEED ASAP, will leave thumbs up
Cathy Company started a business on January 1, 2021. After the first year of operations Cathy reported the following amounts on its 12/31/2021 Income Statement and Balance Sheet: Revenue: $70,000 Accounts Receivable: $8,000 From this information one can conclude: O Cathy Company has not yet received $8,000 of the $62,000 revenue it earned during 2021. Cathy Company has not yet received $8,000 of the $70,000 revenue it earned during 2021 Cathy Company has not yet received $62,000 of the $70,000 revenue it earned during 2021. O Cathy Company has not yet received $8,000 of the $78,000 revenue it earned during 2021 Cathy Company had the following transactions during 2021: Issued $250,000 of common stock for cash Recorded and paid wages expense of $120,000 Declared and paid a cash dividend of $20,000 . Recorded cash sales of $800,000 Bought inventory for cash of $320,000 Acquired stock in Jordan Corporation for cash of $42,000 Repaid a 6-year note payable in the amount of $440,000 Paid cash for interest accumulated on borrowings of $10,000 What is the net cash provided (used) by financing activities? O $1252,000) $(190,000) O $(220,000) O $(210,000) $230,000 In the long run, a strong statement of cash flows shows that significant cash is being generated internally by: Effective tax planning Operating activities Investing activities Financing activities Step by Step Solution
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