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The Upton Company reported a beginning balance of $900 and an ending balance of $1,200 in its Unearned Revenue account for Year 2. During the
The Upton Company reported a beginning balance of $900 and an ending balance of $1,200 in its Unearned Revenue account for Year 2. During the year, $5,600 of revenue was recognized. Based on this information, how much cash was received from customers? The Ling Corporation reported a beginning balance of $2,500 in its Prepaid Insurance account. During the year, a total of $27,000 was recognized as insurance expense and the Prepaid Insurance account had an ending balance of $2,700. How much cash did Ling pay for insurance during the year? Which of the following would be reported as a financing activity on the statement of cash flows? Multiple Choice Dividends collected from an investment in marketable securities. O Note payable issued to purchase equipment. Purchase of investment securities. o o Cash paid for the purchase of treasury stock. Which of the following would not be reported as a financing activity on the statement of cash flows? Multiple Choice O Cash receipts from issuing common stock o Cash payments for interest o Cash payments to purchase treasury stock Cash payments for dividends
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