Packard Company Engaged in the Following Transactions During Year 1

question 29

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.
The net cash inflow from operating activities on Packard's statement of cash flows for Year 2 is:"

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

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Definitions:

Schizophrenia

A mental disorder characterized by disturbances in thought, perception, and behavior, manifesting in symptoms such as delusions, hallucinations, and disorganized speech.

Dopamine Receptors

Proteins located on the surface of nerve cells that interact with the neurotransmitter dopamine, playing crucial roles in many neurological processes.

Therapeutic Drugs

Medications used to treat, cure, or prevent diseases and restore health in individuals.

Hallucinations

Perceptions in the absence of external stimuli that have qualities of real perception, often seen in certain mental disorders or induced by drugs.