Packard Company Engaged in the Following Transactions During Year 1

question 139

Multiple Choice

Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $950 cash from the issue of common stock. 2) Borrowed $420 from a bank.
3) Earned $650 of revenues cash.
4) Paid expenses of $250.
5) Paid a $50 dividend.During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.) 1) Issued an additional $325 of common stock.
2) Repaid $220 of its debt to the bank.
3) Earned revenues of $750 cash.
4) Incurred expenses of $360.
5) Paid dividends of $100.
What is the net cash inflow from operating activities on Packard's statement of cash flows for Year 2?

• A) $390
• B) $650
• C) $350
• D) $820

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Definitions:

Potassium Ions

Charged particles of potassium that are crucial for various bodily functions, including nerve impulse transmission and muscle contraction.

Resting Potential

The electrical charge of a neuron when it is not active, creating a stable environment that prepares the neuron for activation.

Reticular Formation

A network of neurons in the brainstem involved in consciousness, sleep-wake cycles, and filtering incoming stimuli to discriminate irrelevant background information.

Sodium

Sodium is a chemical element with the symbol Na and atomic number 11, essential for human health in small amounts but often discussed in the context of dietary intake and health effects.