PLEASE ANSWER ALL THE QUESTIONS?

1. Lira Company reported the following account balances on its income statement: cost of goods sold$320,000, rent expense$30,000, and salary expense$90,000. During the year, prepaid rent went up by $5,000, accounts payable went down by $4,000, salary payable went up by $3,000, and inventory went down by $2,000. Determine the amount of cash paid for rent.

Group of answer choices:

$31,000

$25,000

$30,000

$28,000

$35,000

2. Which of the following is an example of an investing activity?

Group of answer choices:

Repurchasing common stock

Retiring short-term debt

Paying taxes

Receiving interest

Selling patents

3. Which of the following is an outflow for an investing activity?

Group of answer choices:

Purchase of equipment

Repayment of a loan

Payment to employees

Purchase of treasury stock

Payment of dividends

4. Paying off bonds payable would be shown as a cash outflow for financing activity in the statement of cash flow.

Group of answer choices:

True

False

5. Lira Company reported the following account balances on its income statement: cost of goods sold$320,000, rent expense$30,000, and salary expense$90,000. During the year, prepaid rent went up by $5,000, accounts payable went down by $4,000, salary payable went up by $3,000, and inventory went down by $2,000. Determine the amount of cash paid for rent.

Group of answer choices:

$31,000

$25,000

$30,000

$28,000

$35,000

6. Which of the following are excluded while creating a statement of cash flows?

Group of answer choices:

Repaying long-term debt

Purchasing equipment

Issuing common stock

Declaring a stock split

Borrowing money on a note