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Alla [95]
3 years ago
5

Riley Company borrowed $36,000 on April 1, Year 1 from the Titan Bank. The note issued by Riley carried a one year term and a 5%

annual interest rate. Riley earned cash revenue of $1020 in Year 1 and $950 in Year 2. Assume no other transactions. The amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows would be:
Business
1 answer:
IRINA_888 [86]3 years ago
7 0

Answer:

The amount of cash flow from operating activities that would appear on the Year 2 statement of cash flows would be -$850 or $850 outflow

Explanation:

The computation of the cash flow from the operating activities for year 2 is shown below:

= Cash revenue in year 2 - interest on notes payable

= $950 - $1,800

= -$850

The negative amount shows an outflow of cash .

The interest on the note payable is computed by

= Borrowed amount × interest rate

= $36,000 × 5%

= $1,800

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3 years ago
Blossom Chemicals Company acquires a delivery truck at a cost of $32,800 on January 1, 2022. The truck is expected to have a sal
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Answer:

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4 0
2 years ago
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6 0
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