Stormer Company Reports the Following Amounts on Its Statement of Cash

question 78

Multiple Choice

Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $28,000;net cash used in investing activities was $10,000 and net cash used in financing activities was $12,000.If the beginning cash balance is $5,000,what is the ending cash balance?

• A)$55,000.
• B)$45,000.
• C)$31,000.
• D)$6,000.
• E)$11,000.

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Definitions:

Repudiated the Contract

The act of refusing to perform the duties or obligations set forth in a contract.

Withdrawn

Refers to the act of taking back or removing an offer, statement, or accusation before it has been accepted or acted upon.

Changes Mind

Changing mind refers to the act of altering one's decision or opinion about a previously made choice or stance.

Rejecting Delivery

The act of refusing to accept goods or delivery of goods, typically because they do not meet the terms of a contract or order.