Packard Company Engaged in the Following Transactions During Year 1

question 85

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.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 $750.4) Incurred expenses of $360.5) Paid dividends of $100.
What is the net cash inflow from operating activities that will be reported on Packard's statement of cash flows for Year 1?

• A)$400
• B)$650
• C)$350
• D)$820

---

Definitions:

Male Answer Syndrome

A tongue-in-cheek term for the tendency of some men to answer questions even when they lack sufficient knowledge or are unsure of the answer.

Relational Aggression

is a type of aggression that involves harming others through manipulation of relationships, often seen in gossiping or exclusion.

Alcohol Use Disorder

A medical condition characterized by an impaired ability to stop or control alcohol use despite adverse social, occupational, or health consequences.

Relational Aggression

Relational aggression is a type of aggression in which harm is caused through manipulation of relationships, often involving social exclusion or rumor spreading.