Mary's Music Store reported net income of $147,000. Beginning balances in Accounts Receivable and Accounts Payable were $26,500 and $20,500, respectively. Ending balances in these accounts were $33,500 and $14,800, respectively. ASsuming that all relevant information has been presented, Mary's net cash flows from operating activities would be Multiple Choice $159,700. $148,300. $145,700. $134,300.
Mary's Music Store reported net income of $147,000. Beginning balances in Accounts Receivable and Accounts Payable were $26,500 and $20,500, respectively. Ending balances in these accounts were $33,500 and $14,800, respectively. ASsuming that all relevant information has been presented, Mary's net cash flows from operating activities would be Multiple Choice $159,700. $148,300. $145,700. $134,300.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please answer both. This is part A and B
Transcribed Image Text:Mary's Music Store reported net income of $147,000. Beginning balances in Accounts Receivable and Accounts Payable were $26,500 and $20,500, respectively. Ending balances in these
accounts were $33,500 and $14,800, respectively. ASsuming that all relevant information has been presented, Mary's net cash flows from operating activities would be:
Multiple Choice
$159,700,
$148,300.
$145,700.
$134,300.
Transcribed Image Text:On November 1, 2021, New Morning Bakery signed a $206,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022.
New Morning Bakery records the appropriate adjusting entry for the note on December 31, 2021. What amount of cash will be needed to pay back the note payable plus any accrued interest
on May 1, 2022? (Do not round your intermediate calculations.)
Multiple Choice
$207,030.
$211.150.
O $206,000.
$212.180.
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