Ending Balance Beginning Balance Assets: Cash and cash equivalents Accounts rece

Question

Ending
Balance Beginning
Balance
Assets:
Cash and cash equivalents
Accounts receivable
Inventory
Plant and equipment
Less accumulated depreciation
Total assets
$43
53
73
582
(301)
$450
$35
59
69
490
(286)
$367
Liabilities and stockholders' equity
Accounts payable
Wages payable
Taxes payable
$57
21
15
$48
18
13

Income Statement

Sales
Cost of good sold
Gross margin
Selling and administrative
Expense
Net operating income
Income taxes
Net income


$893
587
306
189

117
35
$82


10. The net cash provided by (used by) investing activities for the year was

A. ($92).
B. $77.
C. $92.
D. ($77).

Explanation / Answer

Net cash provided by (used) by investing activities for the year was: Sale of land                                    xxx Sale of equipment                           xxx Sale of plant                                  xxx Purchase of equipment                (xxx)                                            _______________ Net cash used by investing activities xxx                                             _______________ For the given problem answer is not tally with the given options,

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