Reference no: EM13745885
George Company was started on January 1, 2013, when it acquired $8,500 cash by issuing common stock. During 2013, the company earned cash revenues of $4,250, paid cash expenses of $3,000, and paid a cash dividend of $550. Based on this information,
A. The 2013 statement of cash flows would show a net cash flow from financing activities of $8,500.
B. The 2013 income statement would show net income of $700.
C. The 2013 statement of cash flows would show net cash inflow from operating activities of $1,250.
D. The December 31, 2013 balance sheet would show total equity of $12,750.
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Statement of cash flows would show a net cash flow
: George Company was started on January 1, 2013, when it acquired $8,500 cash by issuing common stock. During 2013, the company earned cash revenues of $4,250, paid cash expenses of $3,000, and paid a cash dividend of $550. Based on this information,
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