Last year Burch Corporation's cash account decreased by $20,000. Net cash provided by investing activities was $7,500. Net cash used in financing activities was $17,000. On the statement of cash flows, the net cash flow provided by (used in) operating activities was:

Last year Burch Corporation's cash account decreased by $20,000. Net cash provided by investing activities was $7,500. Net cash used in financing activities was $17,000. On the statement of cash flows, the net cash flow provided by (used in) operating activities 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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Holloway Company earned $4,300 of service revenue on account during Year 1. The company collected $3,655 cash from accounts receivable during Year 1. Based on this information alone, determine the following for Holloway Company. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows. The amount of retained earnings that would be reported on the Year 1 balance sheet.
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