Question

please

47

In Polk Company, Treasury Stock increased $20,000 from a cash purchase, and Retained Earnings increased $80,000 as a result of net income of $120,000 and cash dividends paid of $40,000. Net cash used by financing activities is:

Select one:

A. $20,000.

B. $40,000.

C. $120,000.

D. $60,000.

E. None of the above.

48.

The following data are available for Deli Corporation.

Net income	$200,000
Depreciation expense	60,000
Dividends paid	90,000
Loss on sale of land	15,000
Decrease in accounts receivable	10,000
Decrease in accounts payable	45,000

Net cash provided by operating activities is:

Select one:

A. $140,000.

B. $260,000.

C. $160,000.

D. $240,000.

E. None of the above.

49.

The following data are available for Chev Corporation.

Sale of land	$225,000
Sale of equipment	$130,000
Issuance of common stock	140,000
Purchase of equipment	70,000
Payment of cash dividends	120,000

Net cash provided by investing activities is:

Select one:

A. $285,000.

B. $260,000.

C. $305,000.

D. $425,000.

E. None of the above.

Answer 1

answered by: anonymous