The Records of WXY Provided the Following Information for the Year

question 117

Multiple Choice

The records of WXY provided the following information for the year ended December 31, 2011:
(1) Purchased a warehouse and paid for it by issuing 1,000 common shares; market value was $35 per share.
(2) Inventory increased by $4,000.
(3) Accounts payable decreased by $6,000.
(4) Declared a cash dividend, $5,000.
(5) Depreciation expense, $2,000.
(6) Net income, $19,000.
(7) Loss on sale of machine, $3,000.
(8) On December 31, 2011, paid insurance premium on all assets, for 2012 and 2013, $800. There was no prepaid insurance on January 1, 2011.
What was the net cash inflow from operating activities for 2011?

• A) $7,200
• B) $13,200
• C) $16,200
• D) $21,200

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Definitions:

Silicon Tetrahedron

A structural unit in silicate minerals, consisting of a silicon atom surrounded by four oxygen atoms in a tetrahedral arrangement.

Silicate Minerals

minerals that contain silicon and oxygen, often forming the majority of the Earth's crust.

Halides

a class of minerals that are compounds of one or more halogen ions (fluoride, chloride, bromide, iodide) and an element.

Element Cl

Chlorine, a reactive halogen element found in the periodic table with the symbol Cl, used in various industrial and chemical processes.