Reference no: EM133029579
Questions -
Q1. GrannyPants Co. had beginning cash of $32,000. During the year, the company showed an increase in cash from operating activities of $72,000, a decrease in cash of $56,000 from investing activities, an increase in cash of $120,000 from financing activities, and $47,000 in the noncash investing and financing section. What is the net change in cash for the year?
a. $168,000 increase
b. $183,000 increase
c. $89,000 increase
d. $136,000 increase
Q2. Cleveland Inc. borrowed $50,000 cash from the bank in October 2020. In March 2021, Cleveland paid back the $50,000 plus $1,250 in interest. How will the March transaction be shown in the 2021 statement of cash flows?
-An increase in cash in the financing activities section
-A decrease in cash in the financing activities section
-An increase in cash in the investing activities section
-A decrease in cash in the investing activities section
-A decrease in cash in the financing activities section and the operating activities section
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