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How will the sale be reported on the statement of cash flow

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Reference no: EM132786743

Problem 1: Butt company recognized $24,000 of revenue on the cash sale of merchandise that cost $11,000 How will the sale be reported on the statement of cash flows?

A. Cash inflow from investing activities.

B. Cash inflow from operating activities.

C. Cash inflow from financing activities.

D. Cash inflow from principal activities.

Problem 2: When a company recognizes cost of goods sold, how does that event impact the elements of the financial statement? (ignore the effects of recognizing sales revenue.)

A. Assets increase.

B. Liabilities increase.

C. Stockholder's equity decreases.

D. Dividend decrease.

Reference no: EM132786743

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