ABC Co.'s petty cash receipts indicate the following expenditures for the end of October: Office supplies $490 Miscellaneous selling expense $300 Miscellaneous administrative expense $120 What is the cumulative effect of these transactions on the statement of cash flows? a. $420 decrease in financing activities b. $490 increase in operating activities c. $910 decrease in operating activities d. No effect on the statement of cash flows
ABC Co.'s petty cash receipts indicate the following expenditures for the end of October: Office supplies $490 Miscellaneous selling expense $300 Miscellaneous administrative expense $120 What is the cumulative effect of these transactions on the statement of cash flows? a. $420 decrease in financing activities b. $490 increase in operating activities c. $910 decrease in operating activities d. No effect on the statement of cash flows
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 8BE
Related questions
Question
ABC Co.'s petty cash receipts indicate the following expenditures for the end of October:
|
Office supplies |
$490 |
|
Miscellaneous selling expense |
$300 |
|
Miscellaneous administrative expense |
$120 |
What is the cumulative effect of these transactions on the statement of
|
|
a. |
$420 decrease in financing activities |
|
|
b. |
$490 increase in operating activities |
|
|
c. |
$910 decrease in operating activities |
|
|
d. |
No effect on the statement of cash flows |
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning