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Business, 27.10.2021 02:00 mccarthyrookie6491
Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.)
a. Acquired $1,400 cash from the issue of common stock.
b. Borrowed $870 from a bank.
c. Earned $1,050 of revenues cash.
d. Paid expenses of $340.
e. Paid a $140 dividend.
During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.)
a. Issued an additional $775 of common stock.
b. Repaid $535 of its debt to the bank.
c. Earned revenues of $1,200 cash.
d. Incurred expenses of $540.
e. Paid dividends of $190.
Required:
What is the net cash inflow from operating activities on Packard's statement of cash flows for Year 2
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Packard Company engaged in the following transactions during Year 1, its first year of operations. (...
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