Lexington Company Engaged in the Following Transactions During Year 1

question 13

Multiple Choice

Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) Acquired $5,000 cash from issuing common stock.Borrowed $3,200 from a bank.Earned $4,100 of revenues.Incurred $2,600 in expenses.Paid dividends of $600.
Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions.)
Acquired an additional $1,500 cash from the issue of common stock.Repaid $2,000 of its debt to the bank.Earned revenues, $5,500.Incurred expenses of $3,150.Paid dividends of $1,840.
What was the net cash flow from financing activities reported on Lexington's statement of cash flows for Year 2?

• A)$2,340 outflow
• B)$2,340 inflow
• C)$1,500 inflow
• D)$1,500 outflow

Explore the relationship between attitudes and behavior, including conditions influencing consistency.

Describe cognitive processes like cognitive dissonance and implicit cognition in shaping perceptions and attitudes.

Examine factors influencing attraction, liking, and the development of interpersonal relationships.

Understand various psychological theories and their perspectives on personality development.

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Definitions:

Publicly Owned

Refers to entities or businesses that are owned by the government or the public through publicly traded shares.

Inventory Costs

Expenses associated with holding and managing inventory, including storage, insurance, and loss of goods.

Equipment Costs

These are the expenses associated with purchasing or leasing machinery, tools, or other equipment required for the operation of a business or research activity.

Service Delivery

The process of providing services to customers or citizens, often evaluated by speed, quality, and customer satisfaction.