Critz Company was started on January 1, 2013 by acquiring $50,000 cash by issue common stock. Critiz also took a loan of $200,000 from the bank. During the year 2013, Critz earned $430,000 revenue and paid $250,400 as expenses. The company paid $10,000 as a cash dividend and $14,000 as interest expense during the year. Cash flow from the financing activities during the year was:

Critz Company was started on January 1, 2013 by acquiring $50,000 cash by issue common stock. Critiz also took a loan of $200,000 from the bank. During the year 2013, Critz earned $430,000 revenue and paid $250,400 as expenses. The company paid $10,000 as a cash dividend and $14,000 as interest expense during the year. Cash flow from the financing activities during the year was:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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