2019 2020 2019 2020 Cash $1,200 $2,400 Accounts payable $4,400 $1,000 Accounts receivable $9,200 $1,100 Wages payable $4,000 $2,800 Inventory $5,500 $7,500 Utilities payable $800 $1,000 Prepaid rent $3,200 $6,000 Note payable $27,000 $30,000 Equipment $56,000 $56,000 Interest payable $2,200 $4,600 Accum. depreciation ($41,000) ($43,000) Common stock $2,000 $2,000 Land $10,000 $12,400 Retained earnings $3,700 $1,000 $44,100 $42,400 $44,100 $42,400 How much were investing cash flows in 2020 if land was sold for $4,000, which was a loss of $1,000? O $4,000 O ($3,400) O ($1,400) O ($5,400) O None of the above

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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2019
2020
2019
2020
Cash
$1,200
$2,400
Accounts payable
$4,400
$1,000
Accounts receivable
$9,200
$1,100
Wages payable
$4,000
$2,800
Inventory
$5,500
$7,500
Utilities payable
$800
$1,000
Prepaid rent
$3,200
$6,000
Note payable
$27,000 $30,000
Equipment
$56,000 $56,000
Interest payable
$2,200
$4,600
Accum. depreciation
($41,000) ($43,000)
Common stock
$2,000
$2,000
Land
$10,000 $12,400
Retained earnings
$3,700
$1,000
$44,100 $42,400
$44,100 $42,400
How much were investing cash flows in 2020 if land was sold for $4,000, which was a loss of
$1,000?
$4,000
($3,400)
($1,400)
($5,400)
None of the above
Transcribed Image Text:2019 2020 2019 2020 Cash $1,200 $2,400 Accounts payable $4,400 $1,000 Accounts receivable $9,200 $1,100 Wages payable $4,000 $2,800 Inventory $5,500 $7,500 Utilities payable $800 $1,000 Prepaid rent $3,200 $6,000 Note payable $27,000 $30,000 Equipment $56,000 $56,000 Interest payable $2,200 $4,600 Accum. depreciation ($41,000) ($43,000) Common stock $2,000 $2,000 Land $10,000 $12,400 Retained earnings $3,700 $1,000 $44,100 $42,400 $44,100 $42,400 How much were investing cash flows in 2020 if land was sold for $4,000, which was a loss of $1,000? $4,000 ($3,400) ($1,400) ($5,400) None of the above
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