Packard Company Engaged in the Following Transactions During Year 1

question 131

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 amount of Packard Company's net cash flow from financing activities for Year 2?

• A) Net outflow of $220
• B) Net outflow of $320
• C) Net inflow of $5
• D) Net inflow of $225

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Definitions:

Genetic Basis

The underlying genetic makeup that contributes to the physical and behavioral traits of an organism.

Self-Efficacy

One's belief in their own ability to succeed in specific situations or accomplish a task.

Reciprocal Determinism

A concept in psychology that suggests individual behavior, personal factors, and the environment all influence each other in a two-way causal relationship.

Self-Esteem

An individual's subjective evaluation of their own worth, encompassing beliefs and emotions about oneself.