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QUESTION 4 The Statement of Cash Flows for the current year contained the following: $10,000 Cash received from customers Cas
Which of the following statements is true? A In the accounting cycle, net income is transferred to retained carings after adj
Use the following T-account to answer the question: Cash Beg. Bal. (a) (b) 123,900 14,700 38,300 6,000 5,800 (c) (d) (e) 7,40
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Answer #1

Q.4 Net Cash Flow From Operating Activities - c. $5,000

Cash Flow from Operating Activities Cash Received from Customer $ 10,000 Cash Used for Payment of Suppliers & Empployee $ (5,

Explanation -

Other Items are related to Investment and Financing Activities.

Answer for True Sentence amoung options provided -

A. In the accounting cycle, net income is transferred to retained earnings after adjuting entries are made.

Explanation -

Other items are False.

Answer for T- account Question - c. $134,500

(c) Cash Beg Bal $ 123,900 (a) $ 14,700 $ 6,000 (b) $ 38,300 $ 5,800 $ 7,400 $ 12,000 $ 11,200 (d) (e) (f) bo End Bal $134,50

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