Team Shirts,Inc

question 150

Multiple Choice

Team Shirts,Inc.bought a computer system for $100,000 and received $10,000 for the sale of its used computers.It also received $10,000 from the sale of its inventory.The amount of net cash from INVESTING activities is ________.

• A)$(100,000)
• B)$(90,000)
• C)$(80,000)
• D)$80,000

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Definitions:

Credit

An accounting entry that increases a liability or equity account, or decreases an asset or expense account. It is also used in banking to denote the addition of funds to an account.

Credit Side

The right side of an accounting ledger, used for recording increases in liabilities, equity, and revenue, and decreases in assets and expenses.

Debit Side

The left side of a ledger account that records increases in assets and expenses or decreases in liabilities and equity.