2019 2020 2019 2020 Cash $1,400 $2,000 Accounts payable $4,700 $4,200 Accounts receivable $3,500 $2,200 Utilities payable $1,400 $2,000 Inventory $6,200 $9,200 Salaries payable $800 $2,200 Prepaid rent $2,000 $1,400 Notes payable $30,000 $34,000 Equipment $46,000 $46,000 Interest payable $2,600 $3,000 Accum. depreciation ($12,400) ($14,000) Common stock $2,000 $2,000 Land $12,000 $13,800 Retained earnings $17,200 $13,200 $58,700 $60,600 $58,700 $60,600 Given the above information, ow much were financing cash flows if net income during 2020 was $12,000? O ($12,000) O ($16,000) O ($8,000) $4,000 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
$1,400
$2,000
Accounts payable
$4,700
$4,200
Accounts receivable
$3,500
$2,200
Utilities payable
$1,400
$2,000
Inventory
$6,200
$9,200
Salaries payable
$800
$2,200
Prepaid rent
$2,000
$1,400
Notes payable
$30,000 $34,000
Equipment
$46,000
$46,000
Interest payable
$2,600
$3,000
Accum. depreciation
($12,400) ($14,000)
Common stock
$2,000
$2,000
Land
$12,000
$13,800
Retained earnings
$17,200 $13,200
$58,700
$60,600
$58,700 $60,600
Given the above information, ow much were financing cash flows if net income during 2020 was
$12,000?
O ($12,000)
O ($16,000)
O ($8,000)
O $4,000
None of the above
Transcribed Image Text:2019 2020 2019 2020 Cash $1,400 $2,000 Accounts payable $4,700 $4,200 Accounts receivable $3,500 $2,200 Utilities payable $1,400 $2,000 Inventory $6,200 $9,200 Salaries payable $800 $2,200 Prepaid rent $2,000 $1,400 Notes payable $30,000 $34,000 Equipment $46,000 $46,000 Interest payable $2,600 $3,000 Accum. depreciation ($12,400) ($14,000) Common stock $2,000 $2,000 Land $12,000 $13,800 Retained earnings $17,200 $13,200 $58,700 $60,600 $58,700 $60,600 Given the above information, ow much were financing cash flows if net income during 2020 was $12,000? O ($12,000) O ($16,000) O ($8,000) O $4,000 None of the above
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