Answer:
The net cash inflow from financing activities on Petras's 2013 statement of cash flows is $5. So, the correct option is A.
Explanation:
Petras Company
Statement of cash flows (extract)
Proceed from the issue of common stock $325
Repayment of outstanding debt ($220)
Dividends paid ($100)
Net cash inflow from financing activities $5
Note that earned revenues and incurred expenses would form the net income used under operating activities section of the cash flows.
The prior year values for there for comparative purpose only.
Answer:
Thrice Corp.:
1) Decrease in inventory $ 590
Debit in of solds $590
Credit in Inventory $590
2) Decrease in accounts payable
Debit in Accounts payable $245
Credit in cash or equivalents $245
3) Increase in notes payable 230
Debit in Expenses. $230
Credit in Notes payables. $230
4) Increase in accounts receivable 260
Debit Account receivable. $260
Credit Income. $260
