Multiple Choice
Use the following information to answer questions
Packard Company engaged in the following transactions during 2015,its first year in operations: (Assume all transactions are cash transactions. )
1) Acquired $950 cash from the issue of common stock.
2) Borrowed $420 from a bank.
3) Earned $650 of revenues.
4) Paid expenses of $250.
5) Paid a $50 dividend.
During 2016,Packard 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.
-Packard Company's net cash flow from financing activities for 2016 is
A) $220 outflow
B) $320 outflow
C) $5 inflow
D) $225 inflow
Correct Answer:

Verified
Correct Answer:
Verified
Q2: An asset use transaction does not affect
Q48: The following information applies to the questions
Q58: Chow Company earned $1,500 of cash revenue,paid
Q121: What is meant by the term "global
Q123: Which of the following is false regarding
Q125: Which of the following items is an
Q128: What financial statement elements are reported on
Q129: Reynolds Company experienced an accounting event that
Q130: Which of the following does not describe
Q131: Which of the following is not an