Reference no: EM133006298
Problem 1: Cash flow category. Cash received from sale of a building.
Select one:
a. None of the above
b. Operating
c. Investing
d. Financing
Problem 2: Cash flow category. Cash loaned out to a customer in the form a long-term note.
Select one:
a. Operating
b. None of the above
c. Financing
d. Investing
Problem 3: Suppose the opening balance of machinery account is a debit balance of P50,000. Within this month, there is an acquisition by an equivalent settlement of P200,000 debt amount. Also, there is a sale of machinery to the sole proprietor at the cost price of P10,000. What is the opening balance of the machinery account the next month?
Select one:
a. debit balance of P240,000
b. credit balance of P250,000
c. debit balance of P250,000
d. credit balance of P240,000
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