Use the following information to answer questions
Packard Company engaged in the following transactions during 2015,its first year in operations: (Assume all transactions are cash transactions. )
1)Acquired $950 cash from the issue of common stock.
2)Borrowed $420 from a bank.
3)Earned $650 of revenues.
4)Paid expenses of $250.
5)Paid a $50 dividend.
During 2016,Packard engaged in the following transactions: (Assume all transactions are cash transactions. )
1)Issued an additional $325 of common stock.
2)Repaid $220 of its debt to the bank.
3)Earned revenues of $750.
4)Incurred expenses of $360.
5)Paid dividends of $100.
-Packard Company's net cash flow from financing activities for 2016 is
A)$220 outflow
B)$320 outflow
C)$5 inflow
D)$225 inflow

Question

Quizplus · Accepted Answer

The Answer of Use the following information to answer questions
Packard Company engaged in the following transactions during 2015,its first year in operations: (Assume all transactions are cash transactions. )
1)Acquired $950 cash from the issue of common stock.
2)Borrowed $420 from a bank.
3)Earned $650 of revenues.
4)Paid expenses of $250.
5)Paid a $50 dividend.
During 2016,Packard engaged in the following transactions: (Assume all transactions are cash transactions. )
1)Issued an additional $325 of common stock.
2)Repaid $220 of its debt to the bank.
3)Earned revenues of $750.
4)Incurred expenses of $360.
5)Paid dividends of $100.
-Packard Company's net cash flow from financing activities for 2016 is
A)$220 outflow
B)$320 outflow
C)$5 inflow
D)$225 inflow

Use the Following Information to Answer Questions