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Naily [24]
3 years ago
10

Petras Company engaged in the following transactions during 2012, its first year in operations: (Assume all transactions are cas

h transactions) 1) Acquired $950 cash from the issue of common stock. 2) Borrowed $420 from a bank. 3) Earned $600 of revenues. 4) Paid expenses of $250. 5) Paid a $50 dividend. During 2013, Petras engaged in the following transactions: (Assume all transactions are cash transactions) 1) Issued an additional $325 of common stock. 2) Repaid $220 of its debt to the bank. 3) Earned revenues of $750. 4) Incurred expenses of $360. 5) Paid dividends of $100. The net cash inflow from financing activities on Petras's 2013 statement of cash flows is
a. $5.
b. $325.
c. $225.
d. $955.
Business
1 answer:
Oksana_A [137]3 years ago
5 0

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.

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drek231 [11]

Answer:

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Explanation:

The following is a logical explanation for this variance:

Since, the standard quantity of raw materials to be used is 22 pounds x 500 units = 11000 pounds. The actual usage is 9500 pounds ony. Hence, variance in direct material price variance can be only due to higher cost of direct material purchased.

7 0
3 years ago
Plan production for a four-month period: February through May. For February and March, you should produce to exact demand foreca
Alex73 [517]

Answer:

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3 0
3 years ago
Rollins Corporation is constructing its marginal cost of capital (MCC) schedule. Its target capital structure is 30 percent debt
MrRissso [65]

Answer:

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Explanation:

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yaroslaw [1]
Correct Answer: False
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3 years ago
Jumpin Corporation uses the percentminusofminussales method to estimate uncollectibles. Net credit sales for the current year am
Fudgin [204]

Answer:

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