Reference no: EM132594054
Upon review of Kmart 's statement of cash flows for year 2019, the following was noted:
Cash flows from operating activities $15 000
Cash flows from investing activities 70 000
Cash flows from financing activities (50 000)
Question 1: From this information, the most likely explanation is that Kmart is using:
a. cash from operations and selling non-current assets to pay back debt
d. cash from investors to provide for operations
b. cash from operations and borrowing to purchase non-current assets
c. profits to expand growth
Question 2: If A and B form a partnership the investment in the partnership will be recorded with:
a. debits to any liabilities brought into the partnership
b. credit to contributed capital
c. credits to each partners' capital account
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