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Mkey [24]
3 years ago
8

Wilkes Company had the following transactions during the current year: Earned revenues of $100,000 and incurred expenses of $56,

000, all in cash. Purchased a truck for $25,000. Sold land for $10,000. Borrowed $15,000 from a local bank. What was the total change in cash during the year
Business
1 answer:
alexandr1967 [171]3 years ago
6 0

Answer: $44,000

Explanation:

Change in Cash in operating activities:

= Revenues - expenses

= 100,000 - 56,000

= $44,000

Change in cash in Investing activities

= Sold land - Purchase of truck

= 10,000 - 25,000

= -$15,000

Change in cash from financing activities

= Borrowed $15,000 from local bank

= $15,000

Total change in cash:

=  44,000 -15,000 + 15,000

= $44,000

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3 years ago
Consider a hypothetical economy in which the marginal propensity to consume (MPC) is 0.50. That is, if disposable income increas
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Answer:

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4 years ago
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