Question 8 5 pts The following accounts, among others, app eared on zZ Company\'

Question

Question 8 5 pts The following accounts, among others, app eared on zZ Company's balance sheet at January 1, 2020 and December 31, 2020 January 1. 2020 Accounts payable 63,000 Land 84,000 Notes payable 71,000 Common stock 90,000 Retained earnings 87,000 48,000 70,000 80,000 30,000 29,000 The following information was taken from zZ Company's 202D income statement: Sales revenue Cost of goods sold Other expense Net income $500,000 280,000 120,000 $100,000 Calculate the net cash flow from financin g activities for 2020. If your answer is negative, place a minus si gn in front of your answer with no spaces in between (e.g., 1234)

Explanation / Answer

Answer is $60,000

Explanation

Cash flows from financing activities

Cash received on issue of common stock $60,000

(90,000-30,000)

Increase in common is financial activity

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