Packard Company engaged in the following transactions during Year 1, its first year of operations: (Assume all transactions are cash transactions.) 1) Acquired $1000 cash from the issue of common stock. 2) Borrowed $470 from a bank. 3) Earned $700 of revenues. 4) Paid expenses of $260. 5) Paid a $60 dividend. During Year 2, Packard engaged in the following transactions: (Assume all transactions are cash transactions.) 1) Issued an additional $375 of common stock. 2) Repaid $255 of its debt to the bank. 3) Earned revenues of $800. 4) Incurred expenses of $380. 5) Paid dividends of $110. What is Packard Company's net cash flow from financing activities for Year 2?
A. $365 inflow
B. $10 inflow
C. $255 outflow
D. $265 outflow
Answer: B
Business
You might also like to view...
The absence of ______ can leave higher level management ignorant of what is really going on in the organization.
A. lateral B. horizontal C. downward D. upward
Business
Please list the three things to keep in mind when dealing with your emotions and those of others.
What will be an ideal response?
Business
A person must have contractual capacity to be an agent
a. True b. False Indicate whether the statement is true or false
Business
Optimistic managers follow a maximax choice when they ________.
Business