The Following Transactions Occurred Last Year at Dempsey Inc

question 142

Multiple Choice

The following transactions occurred last year at Dempsey Inc. Based solely on the above information, the net cash flows from financing activities for the year on the statement of cash flows would be

• A) $249,000.
• B) $7,000.
• C) $(103,000).
• D) $(6,000).

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Definitions:

Period Balance

The amount of money remaining at the end of a financial or accounting period, after all transactions have been accounted for.

Cost of Goods Sold

Costs directly connected to creating a company's sold products, encompassing materials and manpower.

Finished Goods Inventory

The assortment of goods that are marketed and ready but have not found buyers.

Labor Costs

The total monetary costs associated with the employment of labor, including wages, benefits, and taxes.