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Selected data for Kris Corporation's comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 $100,000 $(50,000) 50,000 100,000
Selected data for Kris Corporation's comparative balance sheets for Year 1 and Year 2 are as follows: Year 1 Year 2 $100,000 $(50,000) 50,000 100,000 100,000 250,000 300,000 350,000 $550,000 $650,000 Assets Cash Accounts receivable (net) Inventory Equipment (net) Total assets Liabilities and Equity Accounts payable Income taxes payable Bonds payable Common stock Retained earnings Total liabilities and Equity $150,000 $100,000 80,000 30,000 100,000 80,000 100,000 200,000 120,000 240,000 $550,000 $650,000 The changes in the Accounts Payable balance would be recorded on the statement of cash flows as: Multiple Choice an increase of $50,000 under financing activities. a decrease of $50,000 under financing activities. an increase of $50,000 under operating activities. an decrease of $50,000 under operating activities
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