2019 2020 2019 2020 Cash $2,800 $4,700 Accounts payable $4,800 $5,900 Accounts receivable $2,500 $2,900 Utilities payable $2,000 $2,300 Inventory $5,600 $8,100 Salaries payable $200 $1,900 Prepaid insurance $1,500 $2,000 Notes payable $29,000 $29,000 Equipment $45,000 $45,000 Interest payable $1,900 $2,600 Accum. depreciation ($15,500) ($16,200) Common stock $12,000 $13,000 Land $16,000 $15,000 Retained earnings $8,000 $6,800 $57,900 $61,500 $57,900 $61,500 How much were financing cash flows during 2020 if net income was $4,000 during the year? O ($3,500) O ($4,200) O ($5,200) O ($5,900) O None of the above
2019 2020 2019 2020 Cash $2,800 $4,700 Accounts payable $4,800 $5,900 Accounts receivable $2,500 $2,900 Utilities payable $2,000 $2,300 Inventory $5,600 $8,100 Salaries payable $200 $1,900 Prepaid insurance $1,500 $2,000 Notes payable $29,000 $29,000 Equipment $45,000 $45,000 Interest payable $1,900 $2,600 Accum. depreciation ($15,500) ($16,200) Common stock $12,000 $13,000 Land $16,000 $15,000 Retained earnings $8,000 $6,800 $57,900 $61,500 $57,900 $61,500 How much were financing cash flows during 2020 if net income was $4,000 during the year? O ($3,500) O ($4,200) O ($5,200) O ($5,900) O None of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please help me with this accounting question, I am having so much trouble.
Transcribed Image Text:2019
2020
2019
2020
Cash
$2,800
$4,700
Accounts payable
$4,800
$5,900
Accounts receivable
$2,500
$2,900
Utilities payable
$2,000
$2,300
Inventory
$5,600
$8,100
Salaries payable
$200
$1,900
Prepaid insurance
$1,500
$2,000
Notes payable
$29,000 $29,000
Equipment
$45,000
$45,000
Interest payable
$1,900
$2,600
Accum. depreciation
($15,500) ($16,200)
Common stock
$12,000 $13,000
Land
$16,000
$15,000
Retained earnings
$8,000
$6,800
$57,900
$61,500
$57,900 $61,500
How much were financing cash flows during 2020 if net income was $4,000 during the year?
($3,500)
($4,200)
($5,200)
O ($5,900)
None of the above
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