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During 2013, Chi Company earned $2,150 of cash revenue, paid $1,000 of cash expenses, and paid a $500 cash dividend to its owners. Based on this information alone:
A. cash inflow from operating activities was $1,150.
B. total assets increased by $650.
c. net income amounted to $1,150.
d. all of these are correct.
Prepare an income statement for the year ended 30th June 2014 given the following account balances. Note: Some accounts may not be relevant.
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multiple choice questions related to price raise by supplier and the debit and credit.1 lunds balloon company has 2500
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