Multiple choice question based on cash flow

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Reference no: EM13356230

Multiple choice question based on cash flow statement.

1.Miller Company purchased treasury stock with a cost of $15,000 during 2008. During the year, the company paid dividends of $20,000 and issued bonds payable for proceeds of $816,000. Cash flows from financing activities for 2008 total

a.$796,000 net cash inflow.
b.$811,000 net cash inflow.
c. $5,000 net cash outflow.
d. $781,000 net cash inflow.

2.Use the following information to answer this question:

Nagen Company had these transactions pertaining to stock investments:
Feb. 1 Purchased 2,000 shares of Cagney Company (10%) for $33,200 cash plus brokerage fees of $800. June 1 Received cash dividends of $2 per share on Cagney stock. Oct. 1 Sold 800 shares of Cagney stock for $16,000 less brokerage fees of $400. The entry to record the receipt of the dividends on June 1 would include a

a.debit to Stock Investments for $4,000.
b.credit to Dividend Revenue for $4,000.
c.debit to Dividend Revenue for $4,000.
d.credit to Stock Investments for $4,000.

Reference no: EM13356230

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