QUESTION 13 During Year 1, El Paso Company had the following changes in account balances: • The Accumulated Depreciation account had a beginning balance of $72,500 and an ending balance of $101,500. The increase was due to depreciation expense. The Long-Term Notes Payable account had a beginning balance of $116,000 and an ending balance of $57,000. The decrease was due to repayment of debt. The Equipment Account had a beginning balance of $95,000 and an ending balance of $270,500. The increase was due to the purchase of other operational assets. The Long-Term Investments Account (Marketable Securities) had a beginning balance of $68,400 and an ending balance of $47,500. The decrease was due to the sale of investments at cost. • The Dividends Payable account had a beginning balance of $45,600 and an ending balance of $38,000. There were $76,000 of dividends declared during the period. The Interest Payable account had a beginning balance of $8,550 and an ending balance of $4,750. The difference was due to the payment of interest. What is the net cash flow from financing activities? O $59,000 inflow $83,600 inflow O $142,600 outflow O $59,000 outflow None of the above.

QUESTION 13 During Year 1, El Paso Company had the following changes in account balances: • The Accumulated Depreciation account had a beginning balance of $72,500 and an ending balance of $101,500. The increase was due to depreciation expense. The Long-Term Notes Payable account had a beginning balance of $116,000 and an ending balance of $57,000. The decrease was due to repayment of debt. The Equipment Account had a beginning balance of $95,000 and an ending balance of $270,500. The increase was due to the purchase of other operational assets. The Long-Term Investments Account (Marketable Securities) had a beginning balance of $68,400 and an ending balance of $47,500. The decrease was due to the sale of investments at cost. • The Dividends Payable account had a beginning balance of $45,600 and an ending balance of $38,000. There were $76,000 of dividends declared during the period. The Interest Payable account had a beginning balance of $8,550 and an ending balance of $4,750. The difference was due to the payment of interest. What is the net cash flow from financing activities? O $59,000 inflow $83,600 inflow O $142,600 outflow O $59,000 outflow None of the above.

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Description: please dont give image based solution thnku QUESTION 13During Year 1, El Paso Company had the following changes in account balances:The Accumulated Depreciation account had a beginning balance of $72,500 and an ending balance of $101,500. The increas

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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