During the month of August, Boyce Company had the following transactions: (1) Revenues of $ 127,000 were earned and received in cash. (2) Bank loans of $23, 250 were paid off. (3) Equipment of $47,000 was purchased with cash. (4) Expenses of $77, 100 were paid. (5) Stockholders purchased additional shares for $51,000 cash. A statement of cash flows for August, would report net cash flows from operating activities of: Select one: a. $47,000. b. $30, 650. c. $27,750. d. $ 49,900.

During the month of August, Boyce Company had the following transactions: (1) Revenues of $ 127,000 were earned and received in cash. (2) Bank loans of $23, 250 were paid off. (3) Equipment of $47,000 was purchased with cash. (4) Expenses of $77, 100 were paid. (5) Stockholders purchased additional shares for $51,000 cash. A statement of cash flows for August, would report net cash flows from operating activities of: Select one: a. $47,000. b. $30, 650. c. $27,750. d. $ 49,900.

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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