Question
Use the following information to answer Questions 18- 21: (Assume all transactions are cash transactions ): The XYZ Company engaged in the following transactions during
Use the following information to answer Questions 18- 21: (Assume all transactions are cash transactions ): The XYZ Company engaged in the following transactions during 2019:
1. The business acquired $600 cash from the issue of common stock
2. The company borrowed $200 from a bank
3. The company earned $300 of revenues 4. Expenses amounted to $200
5. Dividends amounted to $25
The XYZ Company engaged in the following transactions during 2020 :
1. The business acquired an additional $250 cash from the issue of common stock
2. The company repaid $150 of its debt to the bank $150
3. Revenues amounted to $ 550
4. Expenses were $ 300
5. Dividends amounted to $50
The amount of net cash flow from financing activities on XYZ's 2019 Statement of Cash Flows is
a. $800 b. $775 c. $600 d. $ 825
The amount of total assets on XYZ's 2019 Balance Sheet is a. $1,475 b. $825 c. $ 800 d. $875
The amount of Retained earnings on XYZ's 2020 Balance Sheet is
a. $1,175 b. $375 c. $275 d. $225
The amount of liabilities on XYZ's 202 Balance sheet is
a. $50 b. $200 c. $150 d. $250
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