Team shirts inc collected 20000 from customers recorded

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Reference no: EM13570340

1)Team Shirts Inc, collected $20,000 from customers, recorded depreciation expense of $5000, received interest of $100, paid $15,000 of its operating expenses, and paid $500 in dividends. The amount of net cash from (or used for operating activities is?

A.) 10,100

B.) 9,600

C.) $100

D.) $,5100

2.) On September 30, 2011, Ace Electronics issued $100,000 of 10- year, 8% bonds at 100. The bond pay interest semianually on September 30 and March 31. On its statement of cash flows for the year ended December 31, 2011, Ace will show Cash paid for interest of?

A.) $(4000) in the cash flows from financing activities section of the statement

B.) $(4000) in the cash flows from operating activities section of the statement

C.) $(2000) in the cash flows from operating activities section of the statement

D.) $0

Reference no: EM13570340

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