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On January 1,Year 1,Mayer Corporation Signed a Contract to Perform $\quad$

Question 12

Multiple Choice

On January 1,Year 1,Mayer Corporation signed a contract to perform $25,000 worth of services for Phips Company over the next three years.Which of the following indicates the effects of this event on the Year 1 income statement and statement of cash flows of Mayer Corporation?
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ Cash Flows
Net Income $\quad$ $\quad$ Operating $\quad$ $\quad$ Investing $\quad$ $\quad$ $\quad$ $\quad$ Financing

A) $On January 1,Year 1,Mayer Corporation signed a contract to perform $25,000 worth of services for Phips Company over the next three years.Which of the following indicates the effects of this event on the Year 1 income statement and statement of cash flows of Mayer Corporation? \quad \quad \quad \quad \quad \quad \quad \quad \quad Cash Flows Net Income \quad \quad Operating \quad \quad Investing \quad \quad \quad \quad Financing A) B) C) D)$
B) $On January 1,Year 1,Mayer Corporation signed a contract to perform $25,000 worth of services for Phips Company over the next three years.Which of the following indicates the effects of this event on the Year 1 income statement and statement of cash flows of Mayer Corporation? \quad \quad \quad \quad \quad \quad \quad \quad \quad Cash Flows Net Income \quad \quad Operating \quad \quad Investing \quad \quad \quad \quad Financing A) B) C) D)$
C) $On January 1,Year 1,Mayer Corporation signed a contract to perform $25,000 worth of services for Phips Company over the next three years.Which of the following indicates the effects of this event on the Year 1 income statement and statement of cash flows of Mayer Corporation? \quad \quad \quad \quad \quad \quad \quad \quad \quad Cash Flows Net Income \quad \quad Operating \quad \quad Investing \quad \quad \quad \quad Financing A) B) C) D)$
D) $On January 1,Year 1,Mayer Corporation signed a contract to perform $25,000 worth of services for Phips Company over the next three years.Which of the following indicates the effects of this event on the Year 1 income statement and statement of cash flows of Mayer Corporation? \quad \quad \quad \quad \quad \quad \quad \quad \quad Cash Flows Net Income \quad \quad Operating \quad \quad Investing \quad \quad \quad \quad Financing A) B) C) D)$

On January 1,Year 1,Mayer Corporation Signed a Contract to Perform \quad

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On January 1,Year 1,Mayer Corporation Signed a Contract to Perform $\quad$

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