The Following Account Balances Are for Curran Company: Additional Data

question 73

Multiple Choice

The following account balances are for Curran Company: Additional data for Year 2:
(1) Sales on account for the period totaled $100,000.(2) Salary expense was $14,000.(3) Rent expense was $12,000.Based on this information, what was the net cash inflow from operating activities for Year 2?
$$\begin{array} { | l | r | r | } \hline & 12 / 31 / 2013 & 12 / 31 / 2014 \\\hline \text { Accounts receivable } & \$ 84,000 & \$ 60,000 \\\hline \text { Prepaid rent } & 8,000 & 4,000 \\\hline \text { Long-term marketable securities } & 80,000 & 70,000 \\\hline \text { Dividends payable } & 6,000 & 2,000 \\\hline \text { Salaries payable } & 8,000 & 2,000 \\\hline \text { Notes payable } & 44,000 & 34,000 \\\hline\end{array}$$

• A)$88,000.
• B)$84,000.
• C)$92,000.
• D)$74,000.

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Definitions:

Humerus

The long bone in the upper arm or forelimb running from the shoulder to the elbow, key to movements of the upper limb.

Coracoid Process

A small hook-like structure on the lateral edge of the superior anterior portion of the scapula.

Scapula

A flat, triangular-shaped bone located in the upper back that connects the humerus (upper arm bone) with the clavicle (collarbone).

Intervertebral Disk

A layer of cartilage separating adjacent vertebrae in the spine, functioning as a shock absorber and allowing flexibility and movement.