On August 1, Year 1, Jackson Company issued a one-year $64,000 face value interest-bearing note with a stated interest rate of 9.00% to Galaxy Bank. Jackson accrues interest expense on December 31, Year 1, its calendar year-end.What is the cash flow from financing activities that will be reported during the year ending December 31, Year 1?
A. $66,400 inflow
B. $0
C. $64,000 inflow
D. ($69,760) outflow
Answer: C
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A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income for the current period? Unadjusted Trial Balance Adjustments Debit Credit Debit CreditCash1025? Accounts receivable 350? Prepaid insurance4100? 200?Supplies230? 120?Equipment11,820? Accumulated depreciation-equipment 240?Accounts payable 1640? Salaries payable 365?Unearned fees 5000? 425? Retained earnings 10,180? Dividends2150? Fees earned 7500? 425? 350?Rent expense2000? Salaries expense2600? 365? Utilities expense395? Insurance
expense 200? Supplies expense 120? Depreciation expense-equipment 240? Totals24,320? 24,320? 1700? 1700?? A. $2505. B. $6120. C. $2660. D. $1700. E. $2355.
The attention to sustainability issues in recent years has?
a. Decreased b. Increased c. Neither decreased nor increased d. It is impossible to know how attention to sustainability has changed
What is meant by "double taxation?" Which type of organizational form is more likely to be subject to double taxation?
What will be an ideal response?
According to the textbook, a good manager treats shareholders, customers, creditors, and employees equally
Indicate whether the statement is true or false.