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
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter11: Current Liabilities And Payroll
Section: Chapter Questions
Problem 3CPP
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 |
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